Article: http://www.voanews.com/english/archive/2009-03/2009-03-08-voa11.cfm
In the Niger Delta, over 60 oil companies have been dumping waste from oil and gas extraction into the Niger Delta, which makes up 77% of Nigeria’s mangrove ecosystem. 1.5 million tons of waste has been dumped into the delta since the past 50 years. Niger’s National Oil Spills Detection and Response [...]
Continue reading about Nigerians Angered over Waste Dumping! »
This article addresses the fact Tuna fishing over the last couple of years has reached a point where it is being massively over produced. This is a prime example of a market failure. A market failure is just when a certain product is either over produced or under produced, which in this case it’s over [...]
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By Bjorn Borgers, Justus Poeschl and Bjorn Kvaale:
Continue reading about ZIS Economists Vodccast: the Zurich Bike Industry »
This article talks about the overfishing that is done in the ocean. “Small prey or forage fish” is being “overexploited”. This is due to the high demand of fish that people are consuming and the cheap costs to the firm. Another reason for the high demand of fishing is that some of the small species [...]
Due to climate destabilization, companies worldwide are trying to reduce their carbon emissions. This article states that the Kyoto Protocol has not influenced countries enough so carbon emissions are still very high. The US is willing to reduce their emissions only if other countries are doing it too since otherwise they would be at a [...]
Continue reading about China minister rejects U.S. pollution duty idea. »
In 2001 the then president of the United States George Bush signed an executive order banning American stem cell research believing it was against human nature and would offend conservative supporters. On March 9th 2009; Barack Obama the new current president of the United States signed an executive order to end the restriction on federal [...]
Continue reading about Obama overturns Bush policy on stem cell research. »
Sixteen years of mounting scientific evidence are securing the idea that “specific forms of air pollution increase the risk of suffering a fatal heart attack, among other cardiovascular diseases.” If these particular toxins are present in the atmosphere, even at levels below the federal health standard, lifespan of the inhabitants near the source can be [...]
Continue reading about Air Pollution Linked to Higher Heart Attack Risk »
China, whose economy heavily relies on exports, has been experiencing a decline in exports for six months now as of April. The value of China’s exports in April fell 22.6% in comparison to last year, a faster decline than in March’s exports (also in comparison to March of last year) during which China experienced a [...]
New stem cell research policy
Former president of the United States, George W. Bush, banned stem cell research during his administration and therefore no public resources were allocated towards this good. President Obama now wants to overturn Bush’s policy to increase public funding for stem cell research.
According to Obama, stem cell research is a merit good, [...]
Title of the Extract: Carbon market crashes with a whisper, not a bang
Commentary Number: #2
Source of the Extract: Guardian Unlimited - http://www.scenta.co.uk/nature/news/cit/1744022/a-collapsing-carbon-market-makes-megapollution-cheap.htm
Date of the Extract: 23/02/09
Word Count: 746
Date of Commentary: 27/03/09
Section of the Syllabus: Unit 2.4 - Market Failure
Candidate Number:
Candidate Name: Ultan Whelan
Economic Recessions Cause Pollution
The carbon market was created to reduce [...]
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Article
Due to lack of proper disposal facilities, radioactive nuclear waste is piling up at hospitals and research institutions around the USA. The waste may be considered to be consumed by the hospitals and research institutions, as it is a product of things such as medical equipment they are using, and it is being kept by [...]
Continue reading about Nuclear Waste and its cost to society »
As the number of pollinators decline each year, certain organizations have recently demanded funding for further research into this; specifically in the area of bees, as they play a vital role in the pollination of vital crops.
The causes of this steady decline in bee population are not certain, but there are some estimates according to [...]
Continue reading about Buzzing Fear among the Biological Researchers as Bees Die Out »
Tuesday, April 21st, 2009
The article is about the rejection of a motion to tax chocolate bars. A doctor in Glasgow claimed that chocolate should be taxed like soft drugs and also compares it to fast food because it causes obesity and type two diabetes. The doctor says “There is lots of negative publicity about other fast food [...]
Continue reading about Taxing Chocolate; Chocolate as a Negative Externality of Consumption »
Espresso’s Cost almost twice as much in Zurich as they do in Lugano!
In an article in the “Wirtschaft” section of the “Tages Anzeiger” it is quite clearly shown on a graph how much the price varies throughout the country for a cup of coffee. What is causing the price variation is unclear. This news is [...]
Not everyone earns benefits from entertainment festivals. The BBC news article reports the concerns of citizen living close to the upcoming “Beach Break Live”. The neighbors complain about the noise, litter and traffic they are exposed to during this event.
A negative externality of consumption occurs anytime when an individual or a group, that [...]
Ski helmets should become mandatory after Natasha Richardson dies in ski accident
The article explains that the recent death of a renowned celebrity at a Canadian ski resort could make wearing helmets in ski resorts compulsory.
Skiing with a helmet on is an action with positive externalities of consumption. A positive externality of consumption occurs when [...]
Due to overfishing in European seas nearly 80% of the world’s fish species are on the verge of extinction, and if nothing is done to mitigate the overfishing the consequences will be dire - not only to the marine ecosystem but also to the large percentage of people who depend on fish as their [...]
This blog is not based on an article, but some data has been used from:
Reuters - Global carbon price unlikely for 10-15 years: analysts
Part of Barak Obama’s plans, are to create an emissions cap and trade scheme in the US. An emission trading scheme is an administrative approach used to control pollution by providing [...]
Article
The Obama administration is proposing an increase in the federal tax on cigarettes from 39 cents per pack to $ 1.01 per pack. In doing so, it hopes to decrease the number of smokers in the United States, and prevent people from starting smoking.
The US government is implementing this tax because it believes cigarettes to [...]
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FT.com / In depth - Daewoo to cultivate Madagascar land for free
Daewoo predict not having to pay anything for the farming of maize and palm oil in Madagascar. The farmland the size of Belgium is under “free” cultivation by Daewoo after they agreed to sign a memorandum with the Madagascan government. Food exports are [...]
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Demand for the products of the chemical company BASF is falling. The demand has fallen sharply in the automotive, construction and textile industries due to the economic slowdown. BASF has decided to cut down output by temporarily halting or slowing down production in 180 plants and also to decrease output from 20% to 25%.
Demand is [...]
A recent study of the real estate market in Zurich has shown that the rents for the busy street Bahnhofstrasse are the 12th highest in the world. The main concern of the stores’ owners is that rents are going up each year by almost 23%.
Demand is a schedule that shows the various amounts of a [...]
UAW: GM to cut production
The article talks about GM’s plans of reducing its production in order to cope with the difficulties in a time when demand and prices for automobiles are low.
The US is currently in recession which accounts for lower incomes. GM automobiles are normal goods meaning people buy less of them [...]
The article from the allafrica.com deals with the fuel shortage in Uganda. Consumers are accusing suppliers of holding back the fuel in order to increase the prices for fuel. But since the demand for fuel is inelastic consumers are forced to continue to purchase the fuel at high prices.
Graph of Elasticity of Fuel
This graph illustrates [...]
