IntroductionAir pollution remains a global problem, especially in heavily industrialized nations such as the United States. Some progress has been made in recent years, however, due in large part to the provisions of the Clean Air Act of 1970 and subsequent federal regulations. The purpose and organization of the paper are described in this section.
How Air Pollution is Measured
This section is used to provide a description concerning how air pollution is measured and which constituent elements are included in the analysis.
How expensive are damages along with specific damages?
The current estimates of the economic costs of air pollution of around $131 billion each year are explained in this section together with examples of specific damages related to diminished worker productivity, increased inpatient stays and health care costs that are associated with the premature births caused by air pollution.
How pollution represents a market failure and how it affects the economy
A definition of market failures and a discussion concerning how air pollution represents such a failure is provided in this section.
Conclusion
Finally, the conclusion is used to present a summary of the research and key findings concerning the foregoing issues.
HOW AIR POLLUTION IS A MARKET FAILURE AND HOW IT AFFECTS THE ECONOMY
Despite the progress made since the passage of the Clean Air Act of 1970, air pollution remains a global problem, especially in heavily industrialized nations including the United States. Although efforts to respond to the adverse effects of air pollution have some positive economic effects, the overall impact of air pollution is highly negative, making it a clear example of a market failure. The purpose of this paper is to provide a review of the relevant literature to explain how air pollution is measured, how expensive damages are along with specific damages, and a discussion concerning how pollution represents a market failure and how it affects the economy in terms of lost worker productivity, additional health care costs and premature deaths. Finally, the paper presents a summary of the research and key findings concerning the foregoing issues in the...
Whereas the level of air pollution in Canada is smaller than the ones in other countries, it can still be considered to play an important role in the tourist industry. People generally come to the country thinking about fresh mountain air and no pollution. However, if one of those wanting to visit Canada would have came across the information that, in 2007 alone, air pollution in Toronto was responsible
After all, Socrates emphasized that, "Every action has its pleasures and its price." As the date when peak oil occurs, likely around mid-century, alternatives to this continuing dependence on fossil fuel resources will require a Manhattan Project-level investment by the public and private sectors to avoid growing air pollution and its concomitant adverse impacts on human health and climate change, and some recommendations to this end are presented below. 3. Recommendation Complex
ability of pollution strategies to improve air quality. Many scientists believe the way to cleaner air is through limiting the use of automobiles to cut down on harmful emissions. Other experts believe new technologies can greatly reduce the emissions and clean up the air while still allowing Americans the autonomy of their automobiles. Some of these measures are too expensive for many people to afford, and this must be
Urban Environmental Air Pollution Urban Environmental Issue: Air Pollution and How to Combat It Because of the significant level of urbanization in many parts of the country, the natural landscape has been changed. This has contributed to pollution of the ecosystem, much of which is magnified within the urban environment by the inability for the pollutants to readily and easily escape the population-dense areas in the same way they could in more
The Unseen Fallout: Investigating Air Quality Deterioration in Oakridge Town Construction SiteIntroductionOakridge Town, an idyllic community known for its peaceful atmosphere and clean air, is currently grappling with an unexpected adversary: severe air pollution caused by a large-scale construction project situated in the heart of the community. A new mall and high-rise apartment complex, touted as the spearhead of urban development in the town, are ironically turning into sources of
Economic Impacts of Regulation Regulation is a written instrument that contains rules with the force of law (Ogus, 2004). Regulation as a process involves monitoring and enforcing rules, established through primary or delegated legislation. Regulation usually creates, constrains or limits a right. In addition, regulation creates and limits a duty besides allocating responsibilities (Ogus, 2004). Regulation may take several forms depending on its application. These includes legal restrictions made by the
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