DOCSLIB.ORG

樣本basic Economic Concepts 基本經濟概念

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
樣本basic Economic Concepts 基本經濟概念 Basic�Economic�Concepts� 樣本 1 基本經濟概念 1.1 Economics 經濟學 Economics is defined as a science to explain or predict human behaviour. It examines how individuals, firms and societies satisfy their unlimited wants with limited resources. 經濟學是一門解釋或推測人類行為的科學，它研究個體、廠商和社會 如何以有限的資源滿足他們無窮的欲望。 1.2 Wants and Resources 欲望及資源 A. Wants欲望 Wants is defined as human desires which can be tangible or intan- gible in nature. It is unlimited, and it is not necessarily backed up by people’s purchasing power. 欲望泛指人類的一切欲念，可以是有形或無形的。欲望是無窮 的，不一定需要有購買力支持。 B. Resources資源 Resources include natural resources, human resources and man-made resources. 資源包括自然資源、人力資源及人造資源。 1.3 Scarcity 稀少性 Scarcity states that resources are limited in supply relative to unlimited human wants at a given time. 稀少性指在某一時期內，相對於人類無窮的欲望，資源顯得有限。 Scarcity is a relative concept. 稀少性是一個相對概念。 6 樣本 樣本 The existence of scarcity implies that 稀少性的存在意味着： Ø Choice and competition (method of allocating resources) are unavoidable. Scarcity will not be solved even choice is made. 選擇與競爭（分配資源的方法）是無可避免的。即使作出了選擇， 稀少性的問題仍不會被解決。 Ø People need to pay cost for the choice they want. 人們須付出代價以獲取他們想要的選擇。 Scarcity exists in all societies. 稀少性存在於任何社會中。 考生通常忽略稀少性(scarcity)是一個相對性的概念，當某物品的供應不 能滿足人們的需求時，稀少性就會出現。所以，不論富人或窮人，都要 面對稀少性的問題，而選擇並非解決稀少性的方法。 Which of the following statements about ‘scarcity’ is correct？ 下列哪一項關於「稀少性」的描述是正確的？ A. Once a choice is made, the problem of scarcity will be solved. 在作出選擇後，稀少性的問題便得以解決。 B. A good is scarce if only a small quantity of it is available for consumption. 某物品屬稀少，若它只有少量可供消費。 C. Scarcity means human wants are unlimited. 稀少性指人類的欲望是無窮的。 D. Both rich people and poor people face scarcity problem. 富有的人與貧困的人都要面對稀少性的問題。 Reference: HKCEE10Paper2Q1 B 和 C 都不正確，因為只有無窮的欲望(unlimited wants) 和有限的資 源 (limited resources)這兩個相對的條件同時存在，方可構成稀少性 (scarcity)，所以答案是D。 7 1.4 Competition and Discrimination 競爭與分歧 In a one-man economy, there will be no competition or discrimination even there is scarcity. Competition exists when two or more individuals in society compete for more of the same good. With competition, some criterion is needed to determine who wins and who loses, thus discrimination is resulted. 在一人經濟中，即使稀少性存在，也不會有競爭和分歧。當社會中兩 個或多個個體競爭同一物品時，競爭便會出現。若競爭存在，便須運 用一些標準去決定誰勝誰負，分歧便存在。 A. Price Competition 價格競爭 Price competition refers to situations that people compete for econo- mic goods by offering the owner other economic goods. 價格競爭即人們為了競爭某經濟物品而向它的擁有人提供其他經 濟物品的情況。 B. Non-price Competition 非價格競爭 Non-price competition refers to situations that people compete for eco- nomic goods through means other than offering the competing parties or the owner other economic goods. 非價格競爭即透過非擁有人提供其他經濟物品以外的方法，以競 爭某經濟物品的情況。 1.5. Opportunity Cost 機會成本 Opportunity cost is the highest-valued option forgone. 機會成本是指被放棄的各種選項中的價值最高者。 The word ‘highest’ is essential because the highest-valued option forgone is the only relevant option in decision making. Those options less preferred to the highest-valued option forgone are irrelevant. 8 Basic Economic Concepts 基本經濟概念 「最高」這詞是必需的，因為在作決策時，被放棄的選項中，價值最高 者是各項選擇中唯一相關者，而那些價值低於被放棄的選項中價值最 高者的選項，都是不相關的。 Cost is an ex ante concept, it is not related to anything that occurs in the past. 成本是一個事前概念，它不牽涉任何過往發生的事。 Sunk cost or historical cost is not a cost as it is the cost incurred by a past option which is no longer available now. However, it can act as reference in decision making. 歷史成本不是成本，因為它是關於過去的選項的成本。可是，歷史成 本可作決策之參考。 Whenever there is no alternative, there is no cost. 若是沒有選擇，就表示沒有成本。 Opportunity cost involved only if time, or other resources used in an action has alternative uses. 若用於某行動的時間及資源有其他的用途，機會成本才會存在。 Cost includes monetary cost and non-monetary cost. 成本包括貨幣性成本及非貨幣性成本。 Price is not always equal to cost. Goods that are obtained at zero price do not imply that the cost of having or keeping them is zero. 價格不一定相等於成本。在零價格時獲得的物品並非意味擁有或持有 這物品的成本是零。 Full cost includes implicit cost and explicit cost. 總成本包括隱含成本與顯性成本。 The opportunity cost of an action changes only when the highest-valued option forgone changes. 只有當被放棄的選項中價值最高者的價值轉變時，某行為的機會成本 才會轉變。 The opportunity cost does not change when the value of the chosen option changes only. 當被選擇的選項的價值轉變時，選擇該選項的機會成本不會轉變。 9 Bruce decided to see a football match of Messi. Which of the following will lead to an increase in Bruce’s opportunity cost of watching that football match? 布斯將看美斯參與的一場足球比賽。下列哪項會令布斯觀看該場足球比 賽的成本上升？ A. Since there was a traffic jam, Bruce was late for around 30 minutes. 由於交通擠塞，布斯約遲到了三十分鐘。 B. Bruce’s view was blocked by other audience. 布斯的視線被其他觀眾阻擋。 C. The match was postponed for an hour due to a storm. 由於暴風雨，比賽時間延遲了一小時。 D. Messi did not join the match as he was injured. 由於受傷，美斯沒有出場比賽。 Reference: HKDSE13Paper1Q2 布斯看足球賽的成本是布斯看球賽那時段所放棄的其他回報，而不是那 球賽帶給布斯的價值。A、B、D 都是改變布斯看那球賽的價值，所以不 是答案。C 則令布斯看球賽的時間增加，會增加布斯看球賽所放棄的其 他回報，所以C是答案。 1.6 Interest 利息 Interest is the premium of present consumption over future consumption of an identical future good in a given period. 利息是在既定時期內以即時消費某一物品來取代未來消費的溢價。 To the borrower, interest is the cost paid for earlier availability of resources, or a price one pays for earlier over later consumption. 10 Basic Economic Concepts 基本經濟概念 對借方而言，利息是支付提早取得資源的價格，或是用以支付提早消 費的價格。 To the lender, interest is the compensation received for deferring the present consumption. 對貸方而言，利息是延遲消費所取得的補償。 Interest is a price because it is a sacrifice or returns one makes to exchange for something valuable. 利息是價格，因為它是一個人為某些有價值的東西進行交易時的犧牲 或回報。 Interest exists even without money. For example, Mr. A loans Mr. B an apple, and their agreement is that Mr. B has to return an apple plus an orange a year later. That orange is the interest. Money is not implied in this case. 即使貨幣不存在，利息依然存在。例如，甲先生借一個蘋果予乙先 生，並協議一年之後要乙先生須還甲先生一個蘋果及一個橙。那麼， 那個橙便是利息。上述個案並不牽涉貨幣。 The existence of interest shows that people are impatient to consume. Peop- le prefer present to future consumption. The marginal rate of time prefe- rence of people is positive. 利息的存在意味人們對消費缺乏耐性。人們喜愛即時的享受多於將來 才享受。人們的邊際時間偏好為正數。 Interest Premium Interest rate = × 100% Principal 利息溢價 利率 = × 100% 本金 Interest Premium = 利息溢價Principal 1.7 Goods 物品 = 本金 x 100% Goods refer to anything that can satisfy human wants. 物品是指任何能夠滿足人類欲望的東西。 11 A. Economic Goods VS Free Goods 經濟物品 VS 免費物品 a. Economic Goods / Scarce Goods 經濟物品 / 稀少物品 (i) The quantity of economic goods is insufficient to satisfy all human wants. More is preferred to less. 經濟物品的供給量不足夠滿足所有人的欲望，愈多便 愈好。 (ii) The quantity demanded of economic goods is larger than its quantity supplied at zero price. 在價格是零的情況下，經濟物品的需求量大於供應量。 (iii) Production cost is positive. 在生產中涉及機會成本。 b. Free Goods免費物品 (i) The quantity supplied of free goods is sufficient to satisfy all our wants. So more is not preferred to less, but some is prefer to none. 免費物品的供給量能夠滿足人們的欲望，所以愈多並不是 愈好，但卻比沒有好。 (ii) The quantity supplied is larger than its quantity demanded at zero price. 在價格是零的情況下，免費物品的供應量大於需求量。 (iii) Production cost is zero. 在生產中不涉及機會成本。 A free-of-charge good may not be free goods, but free goods must be free of charge. 一項免費的物品未必是免費物品，但免費物品一定是免費的。 A good has alternative uses does not imply that it is not a free good. 一項物品有其他用途不意味它不是免費物品。 12 Basic Economic Concepts 基本經濟概念 Natural resources may not be free goods. However, free goods must be na- tural resource. 自然資源或不是免費物品，但免費物品一定是自然資源。 Some goods may be free goods in some situations but economic goods in other situations. 有些物品在某些情況下是免費物品，在另外一些情況下則是經濟物品。 考生常誤會免費的物品必定是免費物品 (free goods)。其實，一些物品在 某些情況下是免費物品，但在另外一些情況下則是經濟物品(economic goods)。考生應注意在題目提供的情況下，人們是否想得到更多該種物 品，以及生產該物品有否涉及機會成本(opportunity cost)。 Which of the following are correct？ 以下哪項是正確的？ (1) An electric shop launched the following promotion campaign：after purchasing a computer at the regular price, customers can get an USB Flash Drive free of charge. To society, the USB Flash Drive is a free good. 一家電子產品店推出推廣計劃：顧客以正價購買一部電腦後，可以 免費獲贈一隻隨身碟（ USB手指）。從社會角度看，該免費的隨身碟 （USB手指）是免費物品。 (2) In restaurants, ice is an economic good because opportunity cost is involved in producing the ice. 餐廳裏的冰是經濟物品，因為生產這些冰須付出代價。 ( 3 ) In the North Pole, ice is a free good because more of the ice is not preferred. 北極裏的冰會被視為免費物品，因為人類並不想得到更多這樣的冰。 A. （1）,（ 2） B. （1）,（ 3） C. （2）,（ 3） D. （1）,（ 2）,（ 3） Reference: HKCEE10Paper2Q4, HKCEE00Paper1Q1 13 答案是 C，因為免費的物品未必是免費物品 (free goods)，人們往往希 望得到更多該物品。此外，隨身碟（ USB手指）的生產是涉及機會成本 (opportunity cost)的。 B. Consumers Goods VS Capital Goods 消費品 VS 資本品 a. Consumer Goods 消費品 Consumer goods are goods produced for direct consumption. 消費品指專供直接消費的物品。 b. Capital Goods資本品 Capital goods are goods produced for further production of other goods. 資本品指用來協助生產其他物品的物品。 C. Private Goods VS Public Goods 私用品 VS共用物品 a. Private Goods 私用品 (i) Private goods are goods for which one’s consumption depletes the consumption of other persons. Apple is an example of pri- vate goods. 私用品是一種當個人享用時會影響其他人享用此物品的物 品。蘋果是私用品的例子。 (ii) Private goods cannot be concurrently consumed. 私用品不能被同時消費。 (iii) Private goods are rival in use. 使用私用品時，競爭性存在。 14 Basic Economic Concepts 基本經濟概念 b. Public Goods 共用物品 (i) Public goods are goods that can be consumed by many indivi- duals at the same time. An example of public goods is the mu- sic of Mozart. 共用物品是一項可供多於一人同時消費的物品。莫札特的 音樂便是一個共用物品的例子。 (ii) Public goods are non-rivalry, which means that one person’s consumption of the public good does not decrease the amount available for another person. 共用物品是非競爭性的，即一個人享用共用物品時並不會 減少其他人可享用該共用物品的數量 。 (iii) Public goods are non-excludability, which means that no one can be excluded from consuming the good. 共用物品是非排拒性的，即是沒有人能被排拒享用共用 物品。 (iv) The marginal cost of serving an extra consumer is zero. 服務額外多一位消費者的邊際成本是零。 (iv) Public goods can be produced privately.
Load more

Recommended publications
  • Sustainability and Common-Pool Resources: Alternatives to Tragedy
    PHIL & TECH 3:4 Summer 1998 Carpenter, Common-Pool Resources/36 SUSTAINABILITY AND COMMON-POOL RESOURCES: ALTERNATIVES TO TRAGEDY Stanley R. Carpenter, Institute of Technology ABSTRACT The paradox that individually rational actions collectively can lead to irrational outcomes is exemplified in human appropriation of a class of goods known as "common-pool resources" ("CPR"): natural or humanly created resource systems which are large enough to make it costly to exclude potential beneficiaries. Appropriations of common-pool resources for private use tend toward abusive practices that lead to the loss of the resource in question: the tragedy of the commons. Prescriptions for escape from tragedy have involved two institutions, each applied largely in isolation from the other: private markets (the "hidden hand") and government coercion (Leviathan). Yet examples exist of local institutions that have utilized mixtures of public and private practices and have survived for hundreds of years. Two problems further exacerbate efforts to avoid the tragic nature of common- pool resource use. One, given the current level of knowledge, the role of the resource is not recognized for what it is. It is, thus, in a fundamental, epistemological sense invisible. Two, if the resource is recognized, it may not be considered scarce, thus placing it outside the scrutiny of economic theory. Both types of error are addressed by the emerging field of ecological economics. This paper discusses common pool resources, locates the ambiguities that make their identification difficult, and argues that avoidance of a CPR loss is inadequately addressed by sharply separated market and state institutions. When the resource is recognized for what it is, a common-pool good, which is subject to overexploitation, it may be possible to identify creative combinations of public and private institutions that can combine to save that resource.
    [Show full text]
  • The Future of Copyright Doctrine According to Star Athletica and Star Trek
    Cornell Journal of Law and Public Policy Volume 27 Article 6 Issue 1 Fall 2017 Three Cheers for Trekonomics: The uturF e of Copyright Doctrine according to Star Athletica and Star Trek Philip M. Duclos Cornell Law School, J.D./ LL.M. candidate, 2018; Follow this and additional works at: https://scholarship.law.cornell.edu/cjlpp Part of the Intellectual Property Law Commons Recommended Citation Duclos, Philip M. (2017) "Three Cheers for Trekonomics: The uturF e of Copyright Doctrine according to Star Athletica and Star Trek," Cornell Journal of Law and Public Policy: Vol. 27 : Iss. 1 , Article 6. Available at: https://scholarship.law.cornell.edu/cjlpp/vol27/iss1/6 This Note is brought to you for free and open access by the Journals at Scholarship@Cornell Law: A Digital Repository. It has been accepted for inclusion in Cornell Journal of Law and Public Policy by an authorized editor of Scholarship@Cornell Law: A Digital Repository. For more information, please contact [email protected]. NOTE THREE CHEERS FOR TREKONOMICS: THE FUTURE OF COPYRIGHT DOCTRINE ACCORDING TO STAR ATHLETICA AND STAR TREK Philip M. Duclos* INTRODUCTION................................................... 208 1. CONSTITUTIONAL AND PUBLIC POLICY GOALS OF COPYRIGHT .. ............................................ 211 A. Origins and Expansion of Copyright Law............ 212 B. Intellectual Property Protection of Fashion Designs.. 214 C. What's the Problem with Intellectual Property Laws? .................................... 215 II. PUBLIC POLICY IN A POST-SCARCITY SOCIETY ............ 216 A. Current Trends Toward and Policy Implications of Post-Scarcity. ............................... 217 1. Definitions of Post-Scarcity................. 219 2. Elements (Potentially) Required for Post-Scarcity Reality .... .................... ..... 220 3. Applications of Post-Scarcity Technology ......
    [Show full text]
  • Water As Property Handout
    Water As Property The Four Different Types of Goods By Raphael Zeder | Last updated Jul 31, 2020 (Published Oct 15, 2016) In economics, goods can be categorized in many different ways. One of the most common distinctions is based on two characteristics: excludability and rivalrousness. That means we categorize goods depending on whether people can be prevented from consuming them (excludability) and whether individuals can consume them without affecting their availability to other individuals (rivalrousness). Based on those two criteria, we can classify all physical products into four different types of goods: private goods, public goods, common resources, and club goods. We will look at each of them in more detail in the video and the paragraphs below. Private Goods Private Goods are products that are excludable and rival. They have to be purchased before they can be consumed. Thus, anyone who cannot afford private goods is excluded from their consumption. Likewise, the consumption of private goods by an individual prevents other individuals from consuming the same goods. Therefore, private goods are also considered rival goods. Examples of private goods include ice cream, cheese, houses, cars, etc. Public Goods Public goods describe products that are non-excludable and non-rival. That means no one can be prevented from consuming them, and individuals can use them without reducing their availability to other individuals. Examples of public goods include fresh air, knowledge, national defense, street lighting, etc. Common Resources Common resources are defined as products or resources that are non-excludable but rival. That means virtually anyone can use them. However, if one individual consumes common resources, their availability to other individuals is reduced.
    [Show full text]
  • Fundamentals of Economics
    FUNDAMENTALS OF ECONOMICS 1 1 NATURE AND SCOPE OF ECONOMICS Basically man is involved in at least four identifiable relationships: a) man with himself, the general topic of psychology b) man with the universe, the study of the biological and physical sciences; c) man with unknown, covered in part by theology and philosophy d) man in relation to other men, the general realm of the social sciences, of which economics is a part. It is hazardous to delineate these areas of inquiry explicitly. However, the social sciences are generally defined to include economics, sociology, political science, anthropology and portions of history and psychology, Economists use history, sociology and other fields such as statistics and mathematics as valuable adjuncts to their study. As a body of knowledge, economics is a relatively new subject, having been around formally a scant two centuries, but subsistence, wealth and the ordinary business of life are, as we all know, as old as mankind. Economics deals with many socioeconomic issues, most of which are of immediate concern to us. Although it is tempting to continue to discuss important economic problems, such a discussion would be premature. To form a reasoned opinion, it is necessary to analyse the issues carefully, a process which requires a meaningful, sequential exposure to economics. Nature has blessed the humans with abundant natural wealth to live on this earth. Humans would have been contended with what nature provided, had they been able to peg their wants (requirements) at a given level. But it is not so, man being born in this world is influenced by biological, physical and social needs, which keep him always busy in searching out the means to keep him satisfied.
    [Show full text]
  • Environmental & Natural Resource Economics (2-Downloads)
    Environmental & Natural Resource Economics 9th Edition The Pearson Series in Economics Abel/Bernanke/Croushore Hartwick/Olewiler O’Sullivan/Sheffrin/Perez Macroeconomics* The Economics of Natural Resource Use Economics: Principles, Applications and Tools* Bade/Parkin Heilbroner/Milberg Parkin Foundations of Economics* The Making of the Economic Society Economics* Berck/Helfand Heyne/Boettke/Prychitko Perloff The Economics of the Environment The Economic Way of Thinking Microeconomics* Microeconomics: Theory Bierman/Fernandez Hoffman/Averett and Applications with Calculus* Game Theory with Economic Applications Women and the Economy: Family, Work, Perman/Common/ McGilvray/Ma Blanchard and Pay Natural Resources and Environmental Macroeconomics* Holt Economics Blau/Ferber/Winkler Markets, Games and Strategic Behavior Phelps The Economics of Women, Men and Work Hubbard/O’Brien Health Economics Boardman/Greenberg/Vining/ Economics* Money and Banking* Pindyck/Rubinfeld Weimer Cost-Benefit Analysis Hughes/Cain Microeconomics* Boyer American Economic History Riddell/Shackelford/Stamos/ Principles of Transportation Economics Husted/Melvin Schneider Economics: A Tool for Critically Branson International Economics Understanding Society Macroeconomic Theory and Policy Jehle/Reny Ritter/Silber/Udell Brock/Adams Advanced Microeconomic Theory Principles of Money, Banking & The Structure of American Industry Financial Markets* Johnson-Lans Roberts Bruce A Health Economics Primer Public Finance and the American Economy The Choice: A Fable of Free Trade
    [Show full text]
  • Ch11-True False & Short Answer
    Chapter 11 Public Goods and Common Resources TRUE/FALSE 1. When goods are available free of charge, the market forces that normally allocate resources in our economy are absent. ANS: T DIF: 2 REF: 11-0 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Market failure MSC: Interpretive 2. Free goods are usually efficiently allocated without government intervention. ANS: F DIF: 2 REF: 11-0 NAT: Analytic LOC: Markets, market failure, and externalities TOP: Market failure MSC: Interpretive 3. Most goods in our economy are allocated in markets, where buyers pay for what they receive and sellers are paid for what they provide. ANS: T DIF: 1 REF: 11-0 NAT: Analytic LOC: The Study of economics, and definitions in economics TOP: Private goods MSC: Applicative 4. Government intervention cannot improve the allocation of resources for goods that do not have prices attached to them. ANS: F DIF: 2 REF: 11-0 NAT: Analytic LOC: The role of government TOP: Public goods MSC: Interpretive 5. A good that is excludable but not rival is known as a natural monopoly. ANS: T DIF: 1 REF: 11-1 NAT: Analytic LOC: The Study of economics, and definitions in economics TOP: Natural monopolies MSC: Definitional 6. National Public Radio would be considered a natural monopoly. ANS: F DIF: 2 REF: 11-1 NAT: Analytic LOC: The Study of economics, and definitions in economics TOP: Natural monopolies MSC: Interpretive 7. Concerts in arenas are not excludable because it is virtually impossible to prevent someone from seeing the show. ANS: F DIF: 1 REF: 11-1 NAT: Analytic LOC: The Study of economics, and definitions in economics TOP: Excludability MSC: Applicative 8.
    [Show full text]
  • SOLUTIONS for a GLOBAL WATER CRISIS: the End of 'Free and Cheap' Water
    SOLUTIONS FOR THE GLOBAL WATER CRISIS The End of ‘Free and Cheap’ Water Citi GPS: Global Perspectives & Solutions April 2017 Citi is one of the world’s largest fi nancial institutions, operating in all major established and emerging markets. Across these world markets, our employees conduct an ongoing multi-disciplinary global conversation – accessing information, analyzing data, developing insights, and formulating advice for our clients. As our premier thought-leadership product, Citi GPS is designed to help our clients navigate the global economy’s most demanding challenges, identify future themes and trends, and help our clients profi t in a fast-changing and interconnected world. Citi GPS accesses the best elements of our global conversation and harvests the thought leadership of a wide range of senior professionals across our fi rm. This is not a research report and does not constitute advice on investments or a solicitation to buy or sell any fi nancial instrument. For more information on Citi GPS, please visit our website at www.citi.com/citigps. Citi GPS: Global Perspectives & Solutions April 2017 Elizabeth Curmi Edward L Morse Global Thematic Analyst Global Head of Commodities +44-20-7986-6818 | [email protected] +1-212-723-3871 | [email protected] Willem Buiter Aakash Doshi Global Chief Economist Senior Commodities Strategist +1-212-816-2363 | [email protected] +1-212-723-3872 | [email protected] Dr. Richard Fenner Adriana Knatchbull-Hugessen University of Cambridge Commodities Strategy Team +1-212-723-7193 | [email protected] Eric G Lee Elaine Prior Senior Commodities Strategist ESG and Sustainability Research +1-212-723-1474 | [email protected] +61-2-8225-4891 | [email protected] Prof Keith Richards Patrick Yau, CFA University of Cambridge Head of Singapore & Malaysia Research +65-6657-1168 | [email protected] Anthony Yuen Global Energy Strategist +1-212-723-1477 | [email protected] Contributors Prof.
    [Show full text]
  • Global Warming
    Preliminary and incomplete SHARING THE BURDEN OF SAVING THE PLANET: GLOBAL SOCIAL JUSTICE FOR SUSTAINABLE DEVELOPMENT Lessons from the Theory of Public Finance J. E. Stiglitz1 There is, by now, a global consensus that global warming/climate change is real and that strong actions need to be taken to ensure that the world does not face excessive risk from an increase in the atmospheric concentration of greenhouse gases. This is my point of departure. There are five other points of consensus that form the background for this paper: (a) Global warming is a global problem and needs to be addressed globally. Unless all countries participate, there is a danger of leakage; reductions in one country may be more than offset by increases elsewhere.2 (b) Global warming is a long-run problem. We are concerned not so much with the level of emissions in any particular year, as with the long run levels of atmospheric concentrations of greenhouse gases. (c) The costs of reducing the level of emissions (limiting the increases in atmospheric concentration of greenhouse gases) will be much lower if it is done efficiently. Efficiency implies comprehensiveness—we need to address all sources of emissions and explore all ways of reducing atmospheric carbon concentrations, including carbon storage and carbon sequestration. (d) There is considerable uncertainty, both about the level of “tolerable” increases in greenhouse gas concentrations and the impact of particular policy interventions. (e) Global warming is a public good problem, so there is a risk of free riding. This means that there will have to be some system of credible enforcement.
    [Show full text]
  • Hertzfeld, Weeden, Johnson Global Commons FINAL
    IAC-15 - E7.5.2 x 29369 How Simple Terms Mislead Us: The Pitfalls of Thinking about Outer Space as a Commons Henry R. Hertzfeld Research Professor, Space Policy Institute, George Washington University, Washington, DC; [email protected], Brian Weeden Technical Advisor, Secure World Foundation, Washington, DC; [email protected] Christopher D. Johnson Project Manager, Secure World Foundation, Washington, DC; [email protected] I. ABSTRACT The space treaties include several different phrases defining the exploration and use of outer space. These include: “...for the benefit of all peoples (countries)”, and “...shall be the “province of all mankind.” The Moon Agreement extends these ideas in the phrase, “the Moon and its resources are the common heritage of all mankind.” Various legal and economic terms are now used as parallels in outer space to these phrases (but do not appear in the treaties themselves). They include: “space is a global commons,” “common pool resources,” “anticommons,” “res nullius” and “res communis.” In reality, none of these terms clearly fits the full legal or economic conditions of outer space, and none of them provide an adequate framework for the future handling of space resources, space exploration, or even for resolving the unavoidable future issues when there will be competing interests or major accidents occurring in outer space. This paper will review the definitions that are often misused for space activities and suggest that more pragmatic ways of insuring that the outer space environment will be effectively managed to avoid misuse, overuse, or abuse be developed. These methods include the recognition of limited property rights and developing new binding dispute resolution techniques.
    [Show full text]
  • Sustaining Our Commonwealth of Nature and Knowledge∗
    H.E. Daly, International Journal of Ecodynamics. Vol. 1, No. 3 (2006) 236–244 SUSTAINING OUR COMMONWEALTH OF NATURE AND KNOWLEDGE∗ H.E. DALY School of Public Policy, University of Maryland, USA. ABSTRACT This lecture will address issues of sustainability in the context of two somewhat opposite difficulties in managing our commonwealth: the problem of non-enclosure of the truly scarce (nature) and that of enclosure of the truly non-scarce (knowledge). Policy reforms respecting both the capacities and limitations of the market in each case will be considered. In closing, a third type of commonwealth, neither nature nor knowledge but institutions, is briefly discussed in terms of the example of fiat money. Keywords: commonwealth, drawdown, global economy, knowledge, nature, private riches, public wealth, rival- ness, scarce, sustain. By sustaining, I mean using without using up, to use while keeping intact, while maintaining or replacing the capacity for future use. What is being sustained is ultimately the capacity to produce income. Income is in turn the maximum that a community can consume this year and still produce the same amount next year – i.e. income is consumption that leaves productive capacity (capital in the broad sense) intact. Income is by definition sustainable consumption [1]. ‘Unsustainable income’ is not income at all but capital drawdown. A large part of our capacity to produce, sometimes consumed and falsely counted as income, is our commonwealth, social wealth as opposed to privately owned wealth. In a free society, individuals have the right to draw down or consume their private wealth, but not the commonwealth.
    [Show full text]
  • Knowledge As a Public Good and Knowledge As a Commodity*
    Эпистемология и философия науки Epistemology & Philosophy of Science 2020. Т. 57. № 4. С. 40–51 2020, vol. 57, no. 4, pp. 40–51 УДК 167.7 DOI: https://doi.org/10.5840/eps202057455 KNOWLEDGE AS A PUBLIC GOOD AND KNOWLEDGE AS A COMMODITY* Nico Stehr – In order to shed some light on the issue of public knowledge, Karl-Mannheim-Professor particularly scientific and technological knowledge, I will first ex- of Cultural Studies emeritus. amine the thesis that incremental in the sense of ‘new’ knowl- Zeppelin University. edge is rarely found in the public domain. additional knowledge am Seemooser Horn 20, mainly produced in the scientific community and by research 88045 Friedrichshafen, outside of science tends to be treated as a commodity. The re- Germany; striction on a wide distribution of new knowledge may be based e-mail: [email protected] on a number of factors. I will concentrate on contemporary legal restrictions, especially, modern patenting laws. The second part of my observations deals with some of the complexities linked to the thesis that knowledge is a public good. I conclude with re- marks about the link between the ownership of knowledge and social inequality. Keywords: proprietary knowledge, common knowledge, patenting, knowledge monopolies, social inequality ЗНАНИЕ КАК ОБЩЕСТВЕННОЕ БЛАГО И ЗНАНИЕ КАК ТОВАР Нико Штер – Автор стремится пролить свет на проблему статуса публичного доктор философии, знания, в частности научного и технологического знания. С этой почетный профессор. целью он рассматривает тезис о том, что добавочное (новое) Университет Цеппелина. знание редко обнаруживается в публичной сфере. Новое зна- am Seemooser Horn 20, ние создается, в основном, научным сообществом в рамках 88045, Фридрихсхафен, научных исследований, а вне науки оно обычно рассматривает- Германия; ся как товар.
    [Show full text]
  • 1 Forum on Social Wealth, UMASS, Amherst, MA, 9/29/05
    Forum on Social Wealth, UMASS, Amherst, MA, 9/29/05 "Sustaining Our Commonwealth of Nature and Knowledge". Herman E. Daly School of Public Policy University of Maryland Abstract: This lecture will address issues of sustainability in the context of two somewhat opposite difficulties in managing our commonwealth : the problem of non enclosure of the truly scarce (nature); and that of enclosure of the truly non scarce (knowledge). Policy reforms respecting both the capacities and limitations of the market in each case will be considered. In closing a third type of commonwealth, neither nature nor knowledge but institutions, is briefly discussed in terms of the example of fiat money. By sustaining I mean using without using up, to use while keeping intact, while maintaining or replacing the capacity for future use. What is being sustained is ultimately the capacity to produce income. Income is in turn the maximum that a community can consume this year and still produce the same amount next year—i.e., income is consumption that leaves productive capacity (capital in the broad sense) intact. Income is by definition sustainable consumption (Sir John Hicks). “Unsustainable income” is not income at all but capital drawdown. A large part of our capacity to produce, sometimes consumed and falsely counted as income, is our commonwealth, social wealth as opposed to privately owned wealth. In a free society individuals have the right to draw down or consume their private wealth, but not the commonwealth. I want to consider mainly two categories of our commonwealth : nature and knowledge, with brief mention of a third category, institutions.
    [Show full text]