Download to read offline
More Related Content
Similar to Environment Economics &Ethics invisible hand & Malthusian theory
More from Shri Shankaracharya College, Bhilai,Junwani
Environment Economics &Ethics invisible hand & Malthusian theory
- 1. 9/17/2021 Dr. RakshaSingh EE& E Invisible Hand & Malthusian Trap Dr Raksha Singh Principal Shri Shankaracharya Mahavidyalaya NAAC Reaccredited “A “Grade (CGPA 3.10) Bhilai ,Chhattisgarh. Ph no. 9826231391 rakshasingh2086@gmail.com
- 2.
- 3. Your World YourTurn Discuss (Question 1) Today ( as on 14 Sept2021) World is facing -----situation because of what ?? 9/17/2021 Dr. Raksha Singh Raksha Singh
- 4. Question 2 How manyof you give tip in Restaurant? WHY WHY NOT 9/17/2021 Dr. Raksha Singh Raksha Singh
- 5. Discuss 9/17/2021 Dr. RakshaSingh Raksha Singh
- 6. Concept of EEE Robbins Definition: Allocation of Resources… Economies rely on ecosystem of goods and services. Earth’s ecological systems purify air and water, form soil, cycle nutrients, regulate climate, pollinate plants, and recycle the waste generated by our economic activity. Such essential services are called ecosystem services. 9/17/2021 Dr. Raksha Singh If EEE not handled properly. Then…. Raksha Singh
- 7. Explanation 1 Weare facing bad situation because of ignoring fundamental relationship between Economics Environment and Ethics Environment provides Resources to the Economy Environment Acts like Sink (garbage bag) for waste and emissions Anyone who casually dismisses the idea that there is a limit to how many people Earth can support should be given a Petri dish with a swab of bacteria. Watch as the colony grows until it consumes all of the available nutrients or is poisoned by its own waste. 9/17/2021 Dr. Raksha Singh Raksha Singh
- 8. Explanation 2 Ethicalbeliefs and practices constitute a vast and unseen institutional force. A famous example is the generous tip that a satisfied traveler leaves at a highway restaurant An eatery to which she never intends to return. Why would anyone leave a tip in this case—when there is no expectation of future economic return? The typical diner says it is customary or traditional to show generosity for good service and giving a tip is simply the “right thing to do.” Economic actors may leave a gratuity because they are altruistic; or, diners may not want to incur the social stigma of not tipping; or, they may believe that they have a duty to act in certain ways; or, they self consciously act in ways thought to be virtuous. 9/17/2021 Dr. Raksha Singh Raksha Singh
- 9. Economist’s toolkit? Why shouldmoral inquiry be a part of the Commerce Management or Economist Toolkit 9/17/2021 Dr. Raksha Singh Raksha Singh
- 10. If Not Economist’stoolkit? The flood that swept through the Kedarnath of Uttarakhand on June 2013 killed thousands. According to the researchers the key cause was global warming. They concluded that melting glaciers and shifting storms may cause more catastrophic floods in mountainous regions of India. It was great ecological damage, loss of human beings and socio economic setup of human life in Kedarnath. 9/17/2021 Dr. Raksha Singh After Before Raksha Singh
- 11. Question? The environmentalsciences have documented large and worrisome changes in earth systems From climate change and loss of biodiversity, to changes in hydrological and nutrient cycles and depletion of natural resources These global environmental changes have potentially large negative consequences for future human well-being, and raise questions about whether global civilization is on a sustainable path or is “consuming too much” by depleting vital natural capital? 9/17/2021 Dr. Raksha Singh Raksha Singh
- 12. Definition Adam Smithdefined economics as “an inquiry into the nature and causes of the wealth of nations.” Alfred Marshall Economics is the study of human activities in the ordinary course of business. It studies how man attains his income and how he utilizes it. In this way, it studies wealth, on one hand, and on the other hand, it is a part of the study of man, which is more important. According to Robbins,“Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses 9/17/2021 Dr. Raksha Singh Raksha Singh
- 13. Are we inMalthusian Trap? Malthusianism idea is that population growth is potentially exponential while the growth of the food supply or other resources is linear Which eventually reduces living standards to the point of triggering a population die off . This event, called a Malthusian catastrophe (also known as a Malthusian trap, population trap, Malthusian check, Malthusian crisis, Malthusian spectre, or Malthusian crunch) This happen when population growth outpaces agricultural production , causing famine or war, resulting in poverty and depopulation 9/17/2021 Dr. Raksha Singh Raksha Singh Raksha Singh
- 14. Conclusion The answeris simple: The subject matter of economics involves individuals making decisions within a social environment. Even the “greatest ruffian, the most hardened violator of the laws of society” is not altogether without social feelings, as noted by Adam Smith, the founder of economics. Choices in economics are often framed by social relations and governed by different types of ethical norms and viewpoints. Smith also wrote in The Wealth of Nations (1776) about the invisible hand of the market; few realize that trust and ethical norms—derived from moral sentiments—were essential components for making trade work without the heavy hand of government. 9/17/2021 Dr. Raksha Singh Raksha Singh Raksha Singh
- 15. Adam Smith’s Invisible hand It referred to the indirect or unintended benefits for society that result from the operations of a free market economy Invisible hand terminology used by him twice. 1759 1776 9/17/2021 Dr. Raksha Singh Raksha Singh
- 16. Invisible hand Smithwent on to argue that the intentional intervention of government regulation, although it is specifically intended to protect or benefit society as a whole, In practice is usually less effective for achieving that end than a freely operating market economy. In many cases, it is harmful to the people as a whole by denying them the benefits of an unencumbered marketplace. Whether the invisible hand of free-market "goodwill" exists or is at all effective is hotly debated. It is, however, difficult to deny that Smith's market philosophy helped create the most successful economy in history. 9/17/2021 Dr. Raksha Singh https://www.youtube.com/watch?v=ulyV Xa-u4wE Raksha Singh Raksha Singh
- 17. Mother Earth Todayoverconsumption is measured against Earth’s carrying capacity. William Rees and Mathis Wackernagel developed the related concept of the ecological footprint . It’s an indicator of the ecological impacts of everyday activities and practices. Ecological footprints are useful ways for industries, governments and people to assess which practices we need to reduce to keep within the limits of Earth’s regenerative capacity. 9/17/2021 Dr. Raksha Singh Raksha Singh
- 18. Measuring Progress GDPVs GPI It is now widely recognized that GDP – the monetary value of all goods and services produced in an economy – is a deeply flawed measure of progress. GDP can be growing while our environment is being degraded, inequality is worsening, and social well-being is stagnant or falling. Poor Environmental quality affects Economic Growth Majorly it affects wellbeing 1. Lowering the quantity and quality of resources 2. Badly impacting the health issues Better indicators of progress include the Genuine Progress Indicator (GPI), which accounts for a wide range of social, economic and environmental factors. 9/17/2021 Dr. Raksha Singh Raksha Singh
- 19. Present And Past Present In todays Scenario Economics means how to take care of financial matters to take care of ourselves Our Ethics totally shattered coz, we hardly question ourselves that what is good or bad but we concern about what we will get Past Economics means taking Care of Home(managing household) Adam Smith founder of Classical Economics proposed an “invisible hand.” 1. Economics shares a common intellectual heritage with ethics 2. Smith felt that the marketplace will behave as if guided by―an invisible hand that leads their actions to benefit society as a whole. 9/17/2021 Dr. Raksha Singh Raksha Singh
- 20. Our Side DUTY Tosurvive we are using Natural resources So our duty is to take care of Mother Earth Environment means Understanding Home Economics means taking Care of Home FAULT In modern times these two areas of human thought separated and ethical implications of each totally lost In the rising tide of one-sided individualism and self centeredness 9/17/2021 Dr. Raksha Singh Ethics Environment Economics Raksha Singh Raksha Singh
- 21. Case Study I There are at least 90 cancer patients for every 100,000 population in Punjab. Cancer incidence in the state is higher than the national average of 80 per 100,000 population, reveals a survey by the Punjab government. The survey results were released on January 28, 2013. Punjab battles uranium curse Punjab is the only state to have uranium in its water The level of uranium in the ground water is 50 percent over the WHO norms Groundwater contaminated 9/17/2021 Dr. Raksha Singh Raksha Singh
- 22. Reason.. Several hypotheseshave emerged attributing the presence of unusually high amount of uranium in the state, especially in the fertile Malwa region: To the fallout of the Gulf War, industrial effluents, water percolating through fly ash dumps of thermal power station, excess application of phosphate-based fertilisers and ...15- Jul-2018 9/17/2021 Dr. Raksha Singh Raksha Singh
- 23. Consequences The highincidence of cancer and other diseases in Punjab’s Malwa belt has been highlighted over the last decade. The effect of all this can be seen in the growing number of patients in the Malwa belt with cancer and other diseases and children being born with abnormalities In fact, a train that connects Bathinda with Bikaner in neighboring Rajasthan is known as the ‘Cancer Express’ as it ferries a large number of cancer patients from Punjab to Bikaner for treatment at a cancer hospital. 9/17/2021 Dr. Raksha Singh
- 24. SOLUTION The Punjabgovernment has sought technical help from the Bhabha Atomic Research Centre (BARC) to tackle the growing problem of uranium in groundwater. https://www.youtube.com/watch?v=BBXMCr7VmcI 9/17/2021 Dr. Raksha Singh
- 25. What to do???? Several efforts by economists and others to develop criteria of “sustainability” with respect to both particular resources and the whole economic system. These are meant to provide ethical guidance concerning appropriate behavior where resource depletion or environmental degradation threatens to reduce the welfare of future generations 9/17/2021 Dr. Raksha Singh Raksha Singh
- 26. Cap resources andenergy Environmental impact is driven by demand for resources and energy. It is now clear that the planet cannot possibly support current or bigger populations if developing nations used the same amount of resources and energy as developed nations. Demand can be reduced through efficiency gains (doing more with less), but these gains tend to be reinvested in more growth and consumption , rather than reducing impacts. A post-growth economy would therefore need diminishing “resource caps” to achieve sustainability. These would aim to limit a nation’s consumption to a “fair share” of available resources. This in turn would stimulate efficiency, technological innovation and recycling, thereby minimising waste. 9/17/2021 Dr. Raksha Singh
- 27. Expectations From Youth Roko Toko……… 9/17/2021 Dr. Raksha Singh
- 28. References http://www.ajhtl.com/uploads/7/1/6/3/7163688/article_56_vol_3_1_2014.pdfhttps:// www.pnas.org/content/116/12/5233 https://www.econlib.org/library/Enc/EthicsandEconomics.html#:~:text=Ethics%20studie s%20values%20and%20virtues,the%20good%20or%20act%20rightly.&text=Ethical%20is sues%20connect%20intimately%20with,doing%20a%20cost%2Dbenefit%20analysis http://hrlibrary.umn.edu/edumat/sustecon/lessons/lesson1.html https://www.thehindu.com/sci-tech/health/medicine-and-research/groundwater- contaminated-punjab-battles-uranium-curse/article3635131.ece https://www.bisd303.org/cms/lib3/WA01001636/Centricity/Domain/614/Ch06%20Read ing%20Guide-Answers.pdf 9/17/2021 Dr. Raksha Singh
- 29. Thank You 9/17/2021 Dr.Raksha Singh https://www.youtube.com/watch?v=gXv8KN3JtJs&list=TLPQMDMx MjIwMjDWwvSTEx1ksg&index=4 https://www.youtube.com/watch?v=2cibM0oywiU https://www.youtube.com/watch?v=4yEmcXkJ8Tk https://www.youtube.com/watch?v=BBXMCr7VmcI http://hrlibrary.umn.edu/edumat/sustecon/lessons/lesson1.html https://www.slideshare.net/ssmvjunwani/concept-of-economics- 231968627
Editor's Notes
- #2 https://teams.microsoft.com/l/meetup-join/19%3a80afa925a50c419a810adc0b5b5b0f7b%40thread.tacv2/1618643982827?context=%7b%22Tid%22%3a%22769d7878-8536-49d2-bdc3-5712db202d70%22%2c%22Oid%22%3a%22b4e7c08a-753f-4a6e-a9cb-62e9e028333c%22%7d
- #4 Economics, Environment and Ethics are inextricably linked. Many of the worst global environmental problems we are experiencing right now are the results of ignoring this fundamental relationship
- #5 https://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1142&context=gradconf_hospitalityDiscuss whom to tip, frontliners or can be distributed among all, Discuss about research papers on this Do you think motivation is a part of commerce management and economics
- #6 The tip is at the discretion of the patron being served and is a reward for services rendered (Brewster and Zachary 2009). Results showed that tipping is a two barreled tool where it can be a motivational tool to those who are tipped and a demotivator to those who are not tippedFor tip workers belief its their right that it must get distributed whereas waiter believes it their right and owner belief its their outlook. So some restaurents never take tip , barbeque nation. They say write feedback
- #7 The discipline of economics arguably should play a central role in meeting the sustainable development challenge. The core question at the heart of sustainable development is how to allocate the finite resources of the planet to meet “the needs of the present, without compromising the ability of future generations to meet their own needs” (25). A central focus of economics is how to allocate scarce resources to meet desired goals; indeed, a standard definition of economics is the study of allocation under scarcity. More specifically, economics studies the production, distribution, and consumption of goods and services, which are both a key driver of development (increasing standards of living through providing food, housing, and other basic human requirements) and a main cause of current changes in earth systems. Economics, combined with earth system sciences, is crucial for understanding both positive and negative impacts of alternatives and the trade-offs involved. Economics, combined with other social and behavioral sciences, is crucial for understanding how it might be possible to shift human behavior toward achieving sustainable development. Economics has well-developed fields in development economics, ecological economics, environmental economics, and natural resource economics, with large bodies of research relevant to the sustainable development challenge. The application of economic principles and empirical findings should be a central component in the quest to meet the aspirations of humanity for a good life given the finite resources
- #8 As we use up natural resources, the need to understand and take care of Earth must be addressed.Environment means understanding home and economics means taking care of home. These two fields of human thought have been separated from one another in modern times and the ethical implications of each have been almost totally lost in the rising tide of one-sided individualism and self-centeredness. Now when we think of economics we think more about how to manage financial matters to take care of ourselves only. Further, we tend not to ask what is fair or reasonable, but rather, what we can get away with. Economics, Environment and Ethics are inextricably linked. Many of the worst global environmental problems we are experiencing right now are the results of ignoring this fundamental relationship
- #9 Wight.Ch1and2.pdf
- #10 MOVIE
- #11 MOVIE
- #12 Social Experiment of colours The increased scale of economic activity and the consequent increasing impacts on a finite Earth arises from both major demographic changes—including population growth, shifts in age structure, urbanization, and spatial redistributions through migration and rising per capita income and shifts in consumption patterns, such as increases in meat consumption with rising income
- #14 Checks on Population When the increasing population rate is greater than the food supply, disequilibrium exists. As a result, people will not get enough food even for survival. People will die due to lack of food supply. Adversities such as epidemics, wars, starvation, famines and other natural calamities will crop up which are named … Positive Checks Nature has its own ways of keeping a check on the increasing population. It brings the population level to the level of the available food supply. The positive checks include famines, earthquakes, flood, epidemics, wars, etc. Nature plays up when the population growth goes out of hand. Social mobility, movement of individuals, families, or groups through a system of social hierarchy or stratification. If such mobility involves a change in position, especially in occupation, but no change in social class, it is called “horizontal mobility.” An example would be a person who moves from a managerial position in one company to a similar position in another. If, however, the move involves a change in social class, it is called “vertical mobility” and involves either “upward mobility” or “downward mobility.” An industrial worker who becomes a wealthy businessman moves upward in the class system; a landed aristocrat who loses everything in a revolution moves downward in the system.
- #15 Like ethics, economics is also a branch of moral philosophy going back to Plato and continuing through Adam Smith in the Enlightenment. Here is a quick example of why the two philosophies are intertwined: If you were told that a child of 8 years of age could better fit into a coal mine shaft than a grown person, and working that child 14 hours per day could increase mine productivity substantially, would you support making child labor legal? If you recoil in horror at this thought, it is because your moral imagination has been arousedYou can’t conceive of such an inhumane policy in this time and place. Regardless of the gain to economic efficiency, other important considerations would likely outweigh it (e.g., the child’s long run welfare). Even ignoring such outcomes, you might ask whether child labor violates certain fundamental human rights. In short, when considering public policies we often rely on unconscious and implicit considerations of ethics in economics.
- #16 Give example of local market. The flood that swept through the Kedarnath of Uttarakhand on June 2013 killed thousands. According to the researchers the key cause was global warming. They concluded that melting glaciers and shifting storms may cause more catastrophic floods in mountainous regions of India.It was great ecological damage, loss of human beings and socio economic setup of human life in Kedarnath.
- #17 Give example of local market. The flood that swept through the Kedarnath of Uttarakhand on June 2013 killed thousands. According to the researchers the key cause was global warming. They concluded that melting glaciers and shifting storms may cause more catastrophic floods in mountainous regions of India.It was great ecological damage, loss of human beings and socio economic setup of human life in Kedarnath.
- #20 that when people are free to pursue their own economic self-interest in a competitive marketplace, the marketplace will behave asif guided by―an invisible hand that leads their actions to benefit society as a whole. Economics studies the production, distribution, and consumption of goods and services, which are both a key driver of development (increasing standards of living through providing food, housing, and other basic human requirements) and a main cause of current changes in earth systems.
- #22 Though several studies in the past decade had showed that Punjab has higher incidence of cancer than the rest of the country, this is for the first time the state government conducted a comprehensive door-to-door survey to quantify the problem.2013 survey of Punjab Tamil Nadu, Aizwal Tobacco,
- #24 Though several studies in the past decade had showed that Punjab has higher incidence of cancer than the rest of the country, this is for the first time the state government conducted a comprehensive door-to-door survey to quantify the problem. A study by Delhi non-profit Centre for Science and Environment in 2004 had found high residue of pesticides in the blood of certain farmers from Bathinda and Ropar districts (see ‘Residue of a revolution’).
- #26 Social experiment of colours