The Negative Effects Of Global Warming And The Environment

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The environment is a significantly important asset to human. It provides various materials to use, fresh air to breathe, food to eat, water to drink, and energy to use. With more human interactions and activities, we have been harming environments and climates around us. These harmful effects lead to negative consequences to our human. For example, greenhouse gas emissions can lead to an asthma and many other health problems and cause a global warming. This is an example of a negative externality, which is a cost that affects a party who did not choose to incur that cost. Clearly, the greenhouse gas emission represents a negative externality to our economy because people who did not choose to incur the cost of emission but still being affected
Individual consumers and firms can drive greenhouse gas emissions to their efficient level without governments if property rights systems are exclusive (all benefits and costs should only accrue to the owner), transferable (property rights could be transferred voluntarily from one owner to another), and enforceable (secure from involuntary seizure or encroachment). If property rights systems are exclusive, transferable, and enforceable, then the owner of a resource has an incentive to reach the optimal level, because the failure to do so leads to a personal loss. However, in case of greenhouse gas emissions, it may be hard to define exclusivity, transferability, and/or enforceability. These greenhouse gas emissions are not cause by just one person, but it is cause by a society as a whole. Nearly everyone is responsible for the emissions because we use just electricity, heat, and transportation almost every day. Therefore, it is significantly difficult to define property rights. In addition, numerous people are do not see and cannot feel the consequences of greenhouse gas emissions. We all know global warming causes sea ice and glacier coverage to decrease and, resulting in sea level rise, but we cannot realize the consequence of that. Perhaps, people live near coastal line may realize the consequence of it, but many people still do not realize it. Therefore, people do not have an incentive to reach the optimal level because we do not see any personal

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