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The Trade Offs Concept Of Going Green

953 words - 4 pages

Over the past decades, individuals and businesses made and continue to make choices to have a better life or business. To accomplish their goals, the science of making choices known in the business world as Economics is used. In this paper, an article dealing with the tradeoffs concept of economics will be presented using the Going Green (Green) movement. There are four major points mentioned in the article regarding the green movement and what it takes to work: consumers view on conserving resources is changed by the market, consumers show interest in participating, and businesses are on board. Along with these four points of the green movement, two economic concepts of supply and demand ...view middle of the document...

Tradeoffs according to the textbook for Principles of Economics, Survey of Economics, economists always remind consumers that there is scarcity in everything we do daily (O’Sullivan, Sheffrin, Perez, page 3). Tradeoffs exist when the decision of knowing what product needs producing. An example of this is a hospital using resources to perform more kidney transplants it leaves less resources to provide adequate care for recovering patients in rehabilitation. In the going green is good for the economy, Leonhardt proposes that the United States needs to increase its research and development on green energy; however, identifies that dangerous impairment lacks funding (2013).
As everything in life, the green movement has benefits as well as downfalls towards the economy. John Lin wrote an article explaining the effects the green movement has on the economy. Three major effects are companies that are receptive lower the prices on services and products creating more sales and an improvement in the economy. According to the Michigan State University action plan to lower residents of the state energy prices projects a net gain of $25 billion in gross state product by year 2025. More jobs are created decreasing the unemployment rate. It is projected that the Michigan Climate Action Plan to fight global warming creates a net increase of 129,000 positions, and economy on a global level increases. According to the Telegraph in the United Kingdom, the industry of renewable energy currently has 2.3 million people employed worldwide, larger the fuel industries of oil and gas collectively (Morse, 2014). As employees discover the best practices of the green movement, working in unison stimulates the economy (Lin, 2013). Although there are positive the outcomes of businesses going with the green movement, there are also negative outcomes or tradeoffs.
The economy to some is broken and is not working for the planet...

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