Environmental Economics:
Introduction
Environmental economics as a discipline concerns itself with environmental matters and phenomena and how they interact with the economics, either of a particular area or the global economy. In recent years global warming as a phenomenon has been increasing becoming a thing of great concern in the world. This is a phenomenon where the temperatures of the earth’s atmosphere rise consistently above normal causing a lot of changes in global climate. This is because its residual effects and impact on many spheres of life are quite significant. This paper examines the effect of global warming and its effect and potential effects on economies around the world. It also proposes several solutions in policy to mitigate the effects of global warming as well as to reverse the situation that cause the same.
Global Warming
Global Warming is the increase in the average temperature of the atmosphere, oceans, and landmasses of Earth. At present the earth is facing a rapid warming, which most scientists believe results, at least in part, from human activities. The chief cause of this warming is thought to be the burning of fossil fuels, such as coal, oil, and natural gas, which releases into the atmosphere carbon dioxide and other substances known as greenhouse gases which are chiefly produced by human activities. As the atmosphere becomes richer in these gases, it becomes a better insulator, retaining more of the heat provided to the planet by the Sun (Hart).Deforestation is also a big causative factor in global warming as it robs the environment of the trees that mainly regulate amounts of carbon dioxide released into the atmosphere.
Among the major effects of global warming on the earth is the global climatic changes that it brings with it.teh overall raised temperatures on the earth’s atmosphere interferes with set climatic systems that operate within certain regions. This climate change has brought drastic changes in seasons and climate patterns in different areas.
