Global warming
Global warming
Global warming is the heating up of the earth. This is a great concern of the nation and the entire world today. Global warming is associated with green house effect (Maslin, 2007). Being a national as well as international concern, global warming has effects on the economy. This is an indication that global warming has adverse consequences on the economy of the United States. Global warming is resulting to climatic changes. Following a warming climate, the water table is lowered, and this is usually as a result of the drought and losses of moisture in the soil. This economically impacts the nation in that the communities that carry out agricultural activities especially in the Great Plains are devastated. Agriculture is one of the economic activities within the nation and once it has been tampered with, the economy also suffers. With the changing climatic conditions, it is not easy to predict the weather and thereby, agriculture cannot thrive. In addition to agriculture, another area of revenue is the timber industry. This is bound to suffer from attacks by pests for example the southern pine beetle and thereby the trees grow at a slow rate. This is something that is observed since global warming has lead to shortened winter (Podesta, 2007). Further, wildfires are also becoming prevalent because of the increased heat during summer. A blow to this industry is a blow to the entire economy.
The heating up is leading to the summers not only becoming warmer but longer as well. These long periods of summers lead to increase in allergies and this implies that costs are increased because of the need to get medical health care. These allergies are medical conditions that can lead to the deaths of sufferers. The nation’s economy is affected since it has it incur more costs to ensure that these people gain access to quality medical services. Adam Smith, John Maynard Keynes and Karl Marx are considered as the big economics three. These economists’ ideas are still applicable in the modern world. For instance, one of the economic issues that the three cited that would have effects on the economy was the issue of the increase in demand for energy (Buchholz, 2007). Today, energy is something that is on high demand and this is contributing to global warming since fossil fuels which are combusted to produce the energy are emitting a lot of carbon dioxide to the environment. The three economists would therefore think that the economic needs of the nation are contributing greatly towards global warming.
As economists, the idea was that the intervention of the government was needed to ensure that the economy grew (Skousen, 2007). This included intervention in the agricultural activities, the timber industry, motor car industry and all other industries. Today, global warming is posing a great threat because of the emission of dangerous gases into the atmosphere. The combustion of car engines also leads to the emission of carbon dioxide. With the view that the government should intervene in the operations of the industries, then their thought on global warming would have been that its effects could be controlled by the government.These three economists would have thought that the government needed to regulate the industry sector. This would involve ensuring that the industries used alternative sources of fuel, and did not emit dangerous gases into the atmosphere. Failure to follow this, then the government would impose charges on the industry and the seriousness of the charges would be considered for instance in extreme cases leading to the closure of the industries. The economic theories of these three necessitated a study of the society and thereby by doing so, the effects of global warming would have been minimized for both the people and the economy.
The effects of global warming on the economy can be minimized. The initial step in reducing its effects should be making the environment healthier for human survival. One of the reasons why the economy of the United States is at risk is because of the use of a high carbon mode. The nation needs to transform and use a low carbon model which could not only lead to the creation of a healthy environment but new markets as well.The debate on global warming ought to be changed. Climate changes have been observed to be real and this does not need to be debated anymore. What the debate should be so as to save on the economy is ways of addressing global warming. It ought to be taken with urgency. The economy would suffer greater costs if nothing is done on the issue of global warming that the costs that it would suffer in addressing it. The earth is getting heated up and this means that these effects are also growing each day.
If global warming is not reversed very fast, then the national resources will get consumed and this is a threat to the coming generations in the nation. As the weather continues getting extreme, the prices of energy will become very unstable and unpredictable. This will be a great devastation to the economy. Therefore, global warming needs to be made a key issue in the program of economics if America is to maintain its leadership in the world’s economy. If no action is taken and taken with a lot of urgency, global warming is there to stay with the Americans. This continues to affect the economy and when the adverse effects have been experienced, the economy will suffer in treating these effects; something that would have been minimized early. Its time the Americans took responsibility in protecting the environment.
References
Buchholz, T. G. (2007). New ideas from dead economists: an introduction to modern economic thought. 2nd Ed. Plume publishers.
Maslin, M. (2007). Global Warming: Causes, Effects, and the Future. MBI Publishing Company.
Podesta, J. (2007). Global warming’s toll on the economy. Retrieved on June 20, 2011 from: http://www.americanprogress.org/issues/2007/09/podesta_nast.html.
Skousen, M. (2007). The Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes. M.E. Sharpe publishers.
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