Question

In 2007, environmental analyst Lester R. Brown estimated that reforesting the earth and restoring the earth's degraded rangelands would cost about \(\$ 15\) billion a year. Suppose the United States, the world's most affluent country, agreed to put up half this money, at an average annual cost of \(\$ 25\) per American. Would you support doing this? Explain.

Short answer

Yes, if feasible, as it spreads cost across many for global environmental benefits.

Step-by-step solution

Identify the Total Cost per Year

The total cost per year to reforest the earth and restore degraded rangelands is given as $15 billion.

Calculate the U.S. Contribution

Since the United States agreed to contribute half of this total cost, we calculate half of \(15 billion: \( \text{U.S. Contribution} = \frac{15,000,000,000}{2} = 7,500,000,000 \). So, the U.S. would contribute \)7.5 billion per year.

Calculate Total U.S. Population Contribution

The problem states this cost is spread across Americans at $25 per person per year. We need to calculate how many people () contribute to achieve this total cost. Using the equation: \( n \times 25 = 7,500,000,000 \), we solve for \( n \).

Solve for the Number of People

Solving for \( n \) gives us: \( n = \frac{7,500,000,000}{25} \). Calculate this value to find the total number of Americans contributing.

Compute the Population Value

\( n = 300,000,000 \). This shows that 300 million Americans would need to contribute \(25 each to cover a U.S. contribution of \)7.5 billion.

Consider Feasibility and Support

Considering the feasibility, if the U.S. with its large population could sustain this small per-person cost, it may be quite feasible and reasonable, thus many might support this environmental initiative.

Key concepts

Environmental Economics

Environmental economics is a branch of economics that focuses on the relationship between the economy and the environment. It examines how economic activities and policies affect the environment and aims to find a balance between environmental protection and economic growth.
Key aspects include:

• Valuing natural resources and services that the environment provides
• Understanding the economic impacts of environmental policies
• Designing policies that can mitigate negative environmental externalities

In the exercise, the cost of reforesting and restoring rangelands is treated as an economic investment which involves resource allocation and potential long-term benefits like cleaner air and stabilized ecosystems. This perspective sees environmental conservation efforts as necessary economic strategies, rather than mere expenses.

Rangeland Restoration

Rangeland restoration focuses on the recovery of ecosystems that have been degraded through activities such as overgrazing or deforestation. This process is essential for maintaining biodiversity, soil health, and water quality.
Steps involved in rangeland restoration typically include:

• Assessing the current condition of the rangeland
• Implementing land management practices such as controlled grazing
• Reintroducing native plant species
• Monitoring the progress and effects of restoration efforts

In the context of the exercise, investing in rangeland restoration can prevent further environmental degradation and create resilient landscapes that support sustainable agricultural practices.

Sustainable Development

Sustainable development aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. It integrates three main objectives: economic growth, environmental protection, and social equality.
Sustainable development is crucial because:

• It ensures a long-term approach to resource management
• Helps in reducing poverty by fostering economic opportunities
• Promotes a healthy and balanced ecosystem

The exercise illustrates how developing a strategy for reforestation and rangeland restoration aligns with sustainable development goals, by addressing environmental issues while being economically viable for a nation like the United States.

Resource Allocation

Resource allocation involves distributing resources in a strategic manner to achieve desired outcomes efficiently and effectively. In environmental contexts, this often means investing funds, labor, and technology towards projects that yield the most benefit.
Considerations in resource allocation for environmental initiatives:

• Determining the priority of different environmental projects
• Evaluating the potential impacts and returns of initiatives
• Ensuring the cost-effectiveness of investments

The exercise presents a scenario where the U.S. allocates a specific amount of money for global environmental initiatives, highlighting decision-making processes on how resources can be used to combat environmental challenges while considering national economic capabilities.

Environmental Initiatives

Environmental initiatives are programs or actions taken to promote sustainability and reduce human impacts on the environment. They can range from local tree-planting projects to international agreements on climate change.
Goals of environmental initiatives often include:

• Reducing carbon footprints and greenhouse gas emissions
• Conserving biodiversity and natural habitats
• Advancing public awareness and education about sustainability

The scenario in the exercise could be seen as part of a larger environmental initiative, where collective small contributions from a large population can result in significant environmental improvements. Such initiatives require public support and engagement to be successful.