This video shows that government should get involved in our environment and that economics provides that platform. The video states that our environment is demoralized and in order to regain momentum we must be knowledgeable in economics.
There are five ways the markets can fail and when there five things exist that is a sign that the government should be involved. Those five items consist of Externalities such as pollution, Property Rights where landowner has no incentive to invest, Lack of competion where we should have open bidding process, Imperfect information and Markets of insurance where you don't want to take risks because you don't know the effect.
Economics is how people choose to use resources and I feel the government should be involved in environmental control and everyone should agree that we should stop subsidizing bad environmental behavior! We need to continue to improve our quality of life.
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