Economic Growth and the Environment: A Review

Introduction

In his seminal work, "Economic Growth and the Environment," E. J. Mishan argues that the pursuit of economic growth has come at a great cost to the environment. He presents a comprehensive analysis of the negative environmental impacts of economic growth, including pollution, climate change, and biodiversity loss. Mishan also argues that the current economic system is unsustainable and that we need to adopt new economic models that prioritize environmental protection.

The Negative Environmental Impacts of Economic Growth

Mishan begins by documenting the various ways in which economic growth has damaged the environment. He discusses the pollution of air, water, and land, as well as the depletion of natural resources. He also highlights the role of economic growth in climate change and biodiversity loss.

Mishan argues that the negative environmental impacts of economic growth are not simply externalities that can be ignored. Rather, they are a fundamental part of the economic system. He argues that the pursuit of economic growth requires the ever-increasing consumption of resources, which in turn leads to environmental degradation.

The Unsustainability of the Current Economic System

Mishan argues that the current economic system is unsustainable. He points out that the world's population is growing rapidly, and that this growth is putting a strain on the planet's resources. He also argues that the current economic system is based on the assumption that resources are infinite, which is simply not true.

Mishan concludes that we need to adopt new economic models that prioritize environmental protection. He argues that we need to move away from the current model of economic growth, which is based on the exploitation of natural resources, and towards a new model that is based on sustainability.

The Need for a New Economic Model

Mishan proposes a number of policies that could be implemented to create a more sustainable economic system. These policies include:

• Reducing our reliance on fossil fuels. Fossil fuels are a major source of pollution and greenhouse gases. We need to transition to renewable energy sources, such as solar and wind power.
• Improving energy efficiency. We need to use energy more efficiently in order to reduce our overall energy consumption. This can be done by making our homes and businesses more energy-efficient, and by using more energy-efficient appliances.
• Reducing our consumption of resources. We need to reduce our consumption of resources, such as water, food, and materials. This can be done by living more simply, and by choosing products that are made from recycled materials.
• Protecting our natural environment. We need to protect our natural environment from pollution, deforestation, and other threats. This can be done by creating protected areas, and by regulating the use of natural resources.

Mishan argues that these policies are necessary to create a more sustainable economic system. He believes that we can create a better future for ourselves and for our children by adopting these policies.

Conclusion

"Economic Growth and the Environment" is a powerful and persuasive argument for the need to adopt new economic models that prioritize environmental protection. Mishan provides a comprehensive analysis of the negative environmental impacts of economic growth, and he argues that the current economic system is unsustainable. He proposes a number of policies that could be implemented to create a more sustainable economic system. This book is a must-read for anyone who is concerned about the environment and the future of our planet.