The Reading Reflection Paper
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“Time and Money: Discounting’s Problematic Allure” by Paul R. Portney
In his article, Portney argues that it is important to take measures to conserve the environment for present benefits and for the generations to come. He presents diverse views from different scholars who all agree that it is important to employ discounting to ensure the future environment is secure. He presents the various ways in which economists think it would be appropriate to carry out discounting the surroundings. After evaluating the ideas of other scholars who disagree about discounting but agree on preserving the environment, Paul R. Portney says that, in his opinion, a referendum would serve to ensure that it is mandatory to conserve nature.
“Greening the GDP: Is It Desirable? Is It Feasible?” by Joel Darmstadter
Joel Darmstadter argues that environmental accounts should be included in the gross domestic product (GPD) without affecting the national important accounts adversely. According to his view, it is important to give allowance on the depletion of environment the same way depletion on industrial assets get allowances. He goes ahead to say that it is difficult to come up with the right tools with which to incorporate environmental accounts into the GDP, but it is possible with serious considerations. He says that regardless of what method comes into use, incorporating environmental accounts is important for conservation of the same.
“Accounting for the Environment” by Spencer Banzhaf
In his article, Spencer Banzhaf brings into light a bill proposed by Ose, suggesting that the environment should be accounted for properly. The bill suggests that government should create a bureau of environment statistics, which will keep proper records and reort about the state environment. According to Banzhaf, keeping valid records and data about the surroundings will be a major step in conserving it, the same way economic statistics plays a considerable role in the economy. Environmental statistics is the first attempt to ensure proper preservation of the environment for the future generations. Banzhaf cites Portney, who also shares the same point of view.
“Discount the Future Economics and Ethics” by Timothy J. Brennan
In his article, Timothy J. Brennan presents arguments by ethics and economic scholars concerning the value of conserving the environment for the future. According to ethics scholars, it is important to preserve nature regardless of the costs spent. According to economists, the environment is an economic resource which should be utilized; therefore, its conservation should not lead to a loss. These conflicts invoke the idea of discounting. The author comes to a conclusion that it is important to preserve the surroundings even at a high expense, since failing to conserve it will cause future generations more losses than it would cost conserving it. If the reverse is true, then the environment can do without conservation.
All these arguments about nature preservation are valid and should be implemented to ensure a safe future for generations to come. I resonate with Brennan in his argument that it is worth conserving the environment if failing to preserve it will cost future generations more than it can cost today. I also think that Banzhaf’s and Ose’s point of view is very realistic. It is important to keep clear records about the environment in order to have a good starting point of conserving it. God created mortals with love. He made them co-creators. Man was very close to God till sin brought out a valley between the two. However, the plans of God for mortals were not terminateed by sin. He sent his son Jesus Christ as part of redemption to restore the broken link. According to The Book of Genesis, God loves his creation and put man in charge of it. God anticipates care for the surrounding from mortals. This, nonetheless, does not happen. The governments of the world consist of persons who care about getting rich at the expense of the environment. The GDPs are calculated without taking into account the depletion occurring in the environment as a result of man’s activities.
When the Almighty placed man in charge of nature, he wanted to see it remain good as it was. Governments should come up with bills that will always account for every depletion that takes place, and appropriate strategies to replace or and minimize pollution. Money ought to be invested in taking care of the environment. God has love. Love bears no selfishness. God loves humanity to the extent of restoring man who once fell short of his glory; he expects man to restore the environment and handle it with care. Governments should stipulate rules and policies to control human activities that adversely create harm to the environment and all that is in it. Environmental care should reciprocate the value God places on mortals.
Conclusively, authorities should enforce relevant laws, even if it calls for referendums to push for their enactment. The calculation of the GDPs should consider the lost part of the environment so at to make strategies that will protect nature. Accounting for the depleted environment will require statistics on the estimated environmental loss. The future generations will have no trouble if environment is preserved today since it will be more expensive to do it in the future. Lastly, God’s desire is to see that the environment is preserved since he wants to see it good in the same way he created it. He wants mortals to show love to the environment as He does to them.
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