The Future Flashcards
(39 cards)
What are the 2 main values?
Instrumental and Intrinsic.
What is an instrumental value?
Conserve the environment as means to an end - using it for food, medicine, energy etc.
What is meant by instrumental value?
Conserving the environment as an end to itself - it is valued in its own right for beauty, rarity and cultural qualities.
How does the way values are applied affect an individual’s decisions about society?
Nature and social justice are subject to different valuations and these can lead to conflict over the decisions made about them and the need for economic growth.
What is the triple bottom line?
Recognises the different values for environment, society and economics.
What does the triple bottom line attempt to do?
Recognise the different values for environment, society and economics.
How do we value nature?
- Intrinsically: for its inherent beauty.
- Hedonically: Aspects of excitement and/or fantasy.
- Utilitarian: Desire to achieve some practical benefit.
- Biogenically: To maintain life.
Give an example of contested values.
Capel Celyn - where the benefits to Liverpool were ranked as being more important than the costs to Capel.
What were the benefits of the Capel Celyn reservoir?
71 million litres of drinking water were provided to Liverpool.
What were the costs of the Capel Celyn reservoir?
Twelve houses and farms lost, 48 people’s livelihoods were affected, post office, school and chapel lost.
What does the case of the Grand Banks Cod highlight?
Demonstrates the contested character of values of a natural resource versus the values of the resource to society now and in the future.
How can we apply instrumental or intrinsic values to the Grand Banks Cod?
Short term instrumental values: employment and income.
Long term intrinsic values: species close to extinction.
What is the Grand Banks Cod also an issue of?
A Tragedy of the Commons: unrestricted access to a free resource.
What is a monetary valuation?
Allows us to compare different value sets via a single easy to understand metric.
What is contingent valuation?
A hypothetical market to measure an individuals’ value of environmental goods/services.
What does ‘willingness to accept’ mean?
The amount of money you would be willing to accept as compensation for the reduction or loss of an environment or social commodity.
What does ‘willingness to pay’ mean?
The amount of money you would hand over to protect an environmental or social commodity.
What is an ‘externality’.
Defined as: something where the costs or benefits resulting from an economic transaction are not reflected by the associated pricing system.
What is a ‘positive externality’?
Economic transaction increases the well-being of someone who is neither a buyer nor seller in the transaction.
What is a ‘negative externality’?
An economic transaction reduces the well-being of someone who is neither a buyer nor seller n the transaction. E.g. pollution from a power station.
What is the externalised cost of climate change?
Melting glaciers, decline crop yields, disease, weather extremes.
How does the ‘production approach’ operate?
Uses the production approach to determine price.
- In a competitive economy every person who has had something to do with the manufacturing process adds their own cost or value before passing it onto the next consumer.
- This accumulates down the production line, from farmer to grocer.
- This is the ‘production approach’.
Did the willingness to pay outweighs the willingness to accept in the Yangtze River case study?
Economic costs of flooding were $31 billion - caused by deforestation, overgrazing and silt.
Reforestation is worth 3 x as much as the value of timber and resulting grazing and costs only $10 million.
The willingness to pay should have outweighed.
What are the internal and external costs of private transport?
Internal: purchase, maintenance, battery and energy.
External costs: air pollution and health.
