GEOL 103 Lecture Notes - Lecture 3: Linear Function, Exponential Growth, Market Failure

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Impact (i = p x c) is growing rapidly. Linear growth in p & c results in exponential growth in i. Since 1990 consumer per person ( = c / p) has stabilized and even started to decline slowly. This means that impact is growing mainly due to the linear increase in population. Reduce impact by further reducing c / p and/or lowering the rate of increase in p. Many parts of our environment can be viewed as a commons. Resources and environmental held in common by many people are often overused or overwhelmed by pollution. Why do individuals have values that lead to degradation of the environmental commons: discounting the future, discounting by distance. Sustainability movement: meeting the needs of today without reducing the quality of life for future generations. When market prices do not re ect all the true costs of a produce or service, the term market failure applies.

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