Discuss the environment as a public good or how environment good are public goods.
⇒The pure public good have two main features one is non-rivalry, meaning that one person’s enjoyment of a good does not diminish the ability of other people to enjoy the same good. The other feature of public goods non-excludability, meaning that people can’t be prevented from enjoying the good. Air quality is an important environment example of a public good under most circumstances one person’s breathing of fresh air does not reduce air quality for others to enjoy, and people can’t be prevented from breathing the air. Public goods are define in contrast to private goods, which are by definition, both rival and excludable
Many environmental resources are characteristic as goods, including water quality, open space, bio-diversity and a stable climate. These examples stand along side the classic public goods of light houses, national defence and knowledge. In some cases however it is reasonable to question whether environment resources are public goods in a fully pure sense with open space. For ex. Individuals have little intensive to voluntary keep the space open. Some people might be prevented from using that open space so some environmental resources are not pure public good. But the air will breath in a sense can be considered as a pure public good.
Although public goods are useful for the public the problem is that due to non-excludability and non-rival characteristic there arises a free riding problem i.e. People over use an explore the over use of existing nature resources which result distraction and diminishment of resources. Therefore it is rational for everyone to conserve those resources so that everyone is better off.
The private companies or institution doesn’t one to produce public goods like bridges, parks etc because there is externality in case of public goods and due to this they are not interested. Therefore efficient provision of public goods is a challenge and so the govt. must come forward to provide those goods and services for the betterment of society. Environmental policy must be implemented properly to protect, preserve those valuable environmental public goods without whose our living will not be healthy and fruitful.
| Article and Schedule Quiz | Start Test! |
