REM 350 Lecture Notes - Lecture 7: Gross Domestic Product, Growth Factor, Biomimetics
23 Apr 2016
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Document Summary
International ghg emission reduction as a global public good requires a coordinated international effort. Views on fair allocation of effort and cost biased by self-interest. Domestic fossil fuels being plentiful high quality energy reward continuous efforts to innovate in production and use. Energy efficiency and renewables are costly when fossil fuel prices are low. Climate policies must be compulsory to be effective. Carbon tax and cap and trade are more economically efficient than regulations although some regulations can be designed to be fairly efficient. Policy designers need to deal with this huge constraint on policy implementation. Behavioral change-doing something different on a regular basis, usually involving a conscious effort initially. Technological change-one decision to acquire a different technology than one would otherwise. E. g. buying a plug-in hybrid while sustaining the same vehicle use. The demand for energy and materials to meet human needs is dynamic because of. Increase in gdp (gross domestic product)-value of all goods and services.
