"Humans have always relied on their environment for the resources they need to live and produce their livelihoods: the physical environment and the biosphere, which is the collection of all forms of life on earth, provide essentials for life such as air, water and food. The environment also provides the raw materials that we use in the production of other goods—such as wood, metals, and oil." One way of thinking about the economy" that it "is part of a larger social system, which is itself part of the biosphere. People interact with each other, and also with nature, in producing their livelihood." (Core Econ, Chapter 1).
In today's class we will discuss the relationship between the economy and the environment.
You should have read the following section in Chapter 1 ("The Capitalist Revolution") of Core Econ: 1.3 The Economy and the Environment.
Write a blog post about the sections you read for homework, relating the ideas in the reading to the country you have chosen to study.
Share a question that you would like to discuss as part of our Socratic Discussion today.
Participate in a Socratic Discussion. This rubric will be used to evaluate your blog post and discussion.
Read the following sections in Chapter 1 ("The Capitalist Revolution") of Core Econ:
Podcast: In this podcast Bruce Yandle of Clemson University and George Mason University's Mercatus Center looks at the tragedy of the commons and the various ways that people have avoided the overuse of resources that are held in common. Examples discussed include fisheries, roads, rivers and the air. Yandle talks with EconTalk host Russ Roberts about the historical use of norms, cooperative ventures such as incorporating a river, the common law, and top-down command-and-control regulation to reduce air and water pollution.