Wednesday, August 27, 2008
No Free Lunch
How many times have you heard in your Principles course the expression that there is "no free lunch?" China's experiment with shutting down the most polluting factories and limiting emissions from traffic during the Beijing Olympics has decreased air pollution to the extent that people could see the blue sky again. However, the cost of the experiment has been a slowdown of economic growth and job creation.
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3 comments:
This may be better for the economy in the long run. Health care is an essential component of economic development. Further increase in pollution would eventually have dire effects on the Chinese population. This is the very public that is essential in maintaining Chinese economic growth. Furthermore, China needs to sustain its environmental resources, air being vital, in order to maintain economic development in the long run. No doubt there is no free lunch, but there is always room for profit. In the long run, this economic decision may lead to greater growth relative to an environment protection free economic framework.
I agree with you on the point that this experiment's long run effects could offset the current cost of job creation. Also, this approach to the problem will act as a first step towards making people more aware of environmental problems. The positive externality of cleaner air should certainly encourage the Chinese public to take action to sustain this healthy environment.
I think the olympics was a great wake up call for China in a sense, because the whole world heard about the runners who opted out of the outdoor marathons because of poor conditions. Perhaps the lesson to be learned is that economic growth that China clearly displays and hopes to continue in the future is a serious one. If such rapid growth comes at the expense of the EXTREME pollution of breathable air, perhaps it is not worth it. There will always be a tomorrow in which to build your country, but perhaps not if you destroy the air necessary for your "growing" people to breathe.
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