Economics vs Environment
In my microeconomics class I am learning all kinds of good stuff. I have always loved capitalism and I still do. But the one part for me thats controversial is that it makes the assumption that although resources are limited, they always replenish. Yes, capitalism eliminates deadweight loss. But could taxes that make people consume less energy be good for future generations that will have to deal with a deteriorating environment, who are not yet alive to make that decision?
Also, there are other animals on the planet besides us. From a purely economic standpoint, capitalism is by far the best. But are there other considerations, such as not killing our own species? Individuals can not protect their species while acting in their own best interest, but governments can. If I stopped driving a petro based car, I would be behind my peers and wouldn't make the cut. But governments leveling the playing field would make that more attractive. In europe there are huge oil taxes, making people use less. Economically unsound (surplus of oil) but environmentally great