How Should Government Balance Environmental Protection With Economic Growth?

SOURCE: http://news.cweb.com/  

On of the major difficulties of the advanced world is balancing environmental protection with economic growth. Without a strong economy a nation suffers. Thus, as one of the world powers The United States takes great value in its large and influential financial market. Yet the nation’s abundant natural resources aren’t always used in a sustainable way, and the rest of the world’s environmental problems remain prevalent. Some say that there is nothing to be done to protect nature while experiencing economic growth, but I argue that if the government take the right steps this theory can be disproved. In order to balance environmental protection with economic growth the government needs to collaborate with officials within the country, as well as abroad. Governments should have a balanced approach to subsidizing promising technologies, develop policies that encourage sustainability and develop trade agreements that have stronger environmental regulations.

Starting with the practice of subsidizing, with just a few changes the government can insure that environmental protection and economic growth are put on the same level of importance. Like I previously discussed in the article “How and Why Does Government Support Big Business” , the government often grants money to certain businesses to insure that they can produce a product that is low enough in price and can compete in the economic market. These grants are called subsidies. Unfortunately the government is prone to granting subsidies to businesses which can be harmful to the environment in order to make more product or gain political support in an election. Even though the US has begun to subsidize environmentally friendly business it is not enough to ensure that the damage done by other subsidized industries is healed. Instead the the US government needs to minimize subsidies on environmentally damaging businesses, or offer an equal,  if not greater amount of subsidies to environmental protection agencies. This way subsidies which help the economy grow won’t be eliminated as a whole, but only restricted from favoring harmful industries while subsidizing promising, “green”, technologies.

Countries around the world have started to realize that the environment is our home and it must be protected. Even though the world is far from abandoning its harmful functions, more and more attention is drawn to the creation of technologies that would maintaining economic prosperity and protect the environment. An example can be taken from the Chinese city Garden Nanchang I talked about in the publication “It is Possible to be Green and Experience Economic Growth”. In the most populated and severely polluted country in the world, China, eight cities follow a low carbon development mission, which allows them to become a strong economic force without polluting the environment. Nanchang accomplishes this by collaborating with nations such as Britain and Australia to instal a low carbon emission infrastructure. The United States needs to take example from efforts such as the one in Nanchang, and change current infrastructure and make it environmentally friendly with the collaboration of other nations. While it will be costly to restructure the nation, its transportation, and energy resources, it will eventually pay off.

Sustainability refers to the the ability to continue a behavior indefinitely. When we talk about environmental sustainability, we refer to the use of our limited resources in a way that doesn’t drain them, but allows us to reuse. A resource that that is becoming depleted because of our fail in sustainability is soil. As I stated in the article, “The Soil Holds Our Future Well-being”, The Economics of Land Degradation Initiative is a way for the government to encourage sustainable use of soil which would benefit an economy dependent on agriculture, while maintaining a healthy environment which allows for fertility. The government should value natural resources and unite with organizations such as the Economics of Land Degradation Initiative towards the goal of sustainability. Organizations like this one will unite econosismt snad envieeoremtalsits to work together rahtern than against each other in finding solutions to global issues.

Finally trading agreements the government makes have a great impact on economy and the environment. As we discussed in class when countries trade with each other they maximize their utility and therefore their economic prosperity. Yet, if envioenemntatal regulations are not enforsed in a trading agreement, there is a good possibility that environmental protection will be discounted in order to make the most profit. An example for weak regulations when it comes to protecting the environment is the Trans Pacific Partnership, a trade partnership that is yet to be approved. In the blogpost President Obama’s Environmental Trade Record Could be Worse Than George W. Bushes’s I discuss how the Obama administration fails to address protection of the environment in its trading regulations. In the past illegal trading of goods and pollution has resulted from agreement who don’t take a strong stand on regulations. Before approving the Trans Pacific Partnership or and other agreements such as this one the government must Strengthen rules and regulations which serve to protect the environment. If a this step is not taken the government can not balance economic growth with environmental protection and as citizen of the world we will be bound to suffer from the negative externalities of pollution.

I recognize that it is hard for a nation to grow economically and protect the natural environment, but I believe it is possible. The government already makes great attempts at balancing these two forces through subsidies and regulations. What still needs to occur is big decisions making to go ahead with the infrastructural changes that implement new and efficient technologies. Often it is hard to make a decision that won’t benefit you immediately, similarly the government sees instant economic growth in actions which may not benefit the environment. Instead the United States government should invest in the future, which will not exist if we do not take the right steps to stop degradation of the environment. America is a strong union that encourages individuality and originality, so we find it hard to take advice from other nations, but sometimes it is necessary that we work together similar goals. By trading we help each other economically, why not start working together towards environmental protection?