Environmental Justice, External Costs, Cost-Benefit Analysis, and The Story of Broke
The Story of Broke-
Taxes are used in order to pay for funds for Schools, energy, jobs, retirees, and other government related subjects
Subsidies: a sum of money granted by the government or a public
body to assist an industry or business so that the price of a commodity or
service may remain low or competitive.
Tax Subsidies: A tax reduction or break that a government grants to a business to create jobs.
Risk Transfer Subsidies: Process in which the Government pays companies to clean up disastrous pollution and the money to cover for them comes from tax payers.
Freebee Subsidies: The government gives stuff that belong to the general public to big companies.
Externalized Costs: Cost of production that someone else pays in order to lessen the cost of the product to the customers. Where companies maximize their profits by inflicting the actual cost of the goods to a third party.
Environmental Justice: The term environmental justice emerged as a concept in the United States in the early 1980s. It states that the more common usage describes a social movement in the United States whose focus is on the fair distribution of environmental benefits and burdens
*People who want to purchase where land is cheapest.
* The cheaper land and is purchased where there is less political resistance.
*All races, and people should live in a place with clean resources, water, and air
*Environmental Justice occurs due to the lack of affordable housing.
*Regions of polluted areas are caused due to the lack of natural environment.
*There are issues of human rights to poorer countries due to this.
*The negative pollution effects are external costs that are passed on to society and the environment.
*Marking pricing quantity depends on supply and demand.
*The social cost add up to the external cost.
*The government can use tax to pay for the damage of water pollution. Even if it means more taxes for the people.
Cost Benefit Analysis-
*Social Cost: Social cost is also known as "private cost". Economic theorists model individual decision-making as measurement of costs and benefits. Social cost is also considered to be the private cost plus externalities.
*Social Benefit: A benefit such as the social security system
*Optimum Cost Benefit: Weighing the expected costs to the expected benefits to determine the best way of dealing with the issue