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According to Part 1 of Common Sense Economics, There is no such thing as a free lunch is one of the main principles of economics.
According to Part 1 of Common Sense Economics, "There is no such thing as a free lunch" is one of the main principles of economics. In other words, people facetradeoffs.
For example, one trade-off of economic growth is pollution. Economic Growth is inevitably accompanied by "gross domestic by-products", including dirty air and polluted water, toxic waste, congestion, and noise. The United States is the world's largest economy and one of the world's largest polluters.
- What responsibility do individuals in the United States have to the rest of the world and to future generations in terms of staving off global warming?In other words, what type of economic sacrifice, if any,should the people of the US make to curb global warming?
- Should we allow developing countries to pollute more, or should we hold these countries to the same standards?
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