1. Environment and the Economy
... pollution starts to shrink..."this occurs because at low incomes people tend to value development over environmental quality, but as they achieve greater wealth they are willing to devote greater resources to greater environmental quality improvements. (Field and Field, 1994). "Another way to think about this is that clean air ... , water, etc. provide an enjoyment that is income elastic. So as income increases above a threshold individuals and society will want to spend a large share of their incomes on these goods, reducing the pollution per unit of output and perhaps even total polluti...
- Word Count: 1513
- Approx Pages: 6
- Has Bibliography
- Grade Level: Undergraduate