Economic Models And Economic Theories Essay

1116 Words Nov 3rd, 2016 5 Pages
When it comes to the study of Economics, it can be very hard to implement a policy without being subjective. Different economic models and economic theories bring different points of views on climate change. Different models give us a different insight on climate change and whether we should still place importance on climate change for the good of human kind or for the good of the governance of the country. Economics is the study of how people choose to use and allocate their resources. As stated by Mike Hulme, “Individuals and societies ascribe values to activities, assets, constructions, and resources in many different ways. One of the reasons we disagree about climate change is because we ascribe these values differently” (Hulme 112). When it comes to climate change, there are many different feelings that come to mind in relation to the economics. With the cost-benefit model, economists place a value on climate change in order to see what costs, or even benefits there are in order to try to reverse climate change. Also, with every economist comes different values and place an importance in the different aspects of economical climate change. This is the product of everyone having different moral and ethical values. Lastly, the uncertainty of future events also influences how economists see climate change. In this paper, I will argue that many economists have different opinions about climate change because of morals, ethics, and uncertainty in the future. Climate change is…

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