. Mr. Rifkin made four (4) arguments in the campaign debate to explain his polic
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Question
. Mr. Rifkin made four (4) arguments in the campaign debate to explain his policy option for global sustainable development pertaining to economic, social and environmental concerns in the policy package.
First of all, Mr. Rifkin said that President Bailey’s proposal for global sustainable development by encouraging the rapid economic growth in a free global market is a bad idea. Mr. Rifkin said, “it will lead the intolerable impact on human-being and environment”. Mr. Rifkin said that the argument made by Mr. Bailey about “preserving the environment, eradicating poverty, and limiting economic growth are incompatible goals”, “sustainable development results in economic stagnation and threatens both the environment and the world’s poor”, and “vigorous economic growth in a free market provides wealth for all and leads to environment protection” were not convincible. He argued that such capitalism model is not the best choice for the global economy. On the Contrary, it had induced a vicious cycle of economic stagnation, poverty and inequality.
Second, Mr. Rifkin argued that sustainable development is compatible with human welfare. It is crucial to establish and maintain the functional human welfare to help people experience a higher quality of life. He demonstrated his argument by European model and said, that “Europe has left America behind in the race to create a sustainable society”. Mr. Rifkin said that, “in many ways, Europeans experience a higher quality of life than the American”. He said, the clear evidence is that, in the long run, cooperation rather than competition is sometimes surer path to happiness.
Third, Mr. Rifkin said, we need adopt a new policy on the use of the precautionary principles to regulate science and new products derived from technology innovation due to “uncertain effects” in the society. He argued that when there is sufficient evidence to suggest a potential negative impact, but not enough to know for sure, the precautionary principle allows regulatory authorities to err on the side of safety, also allows government to respond with a lower threshold of scientific certainty than in the past.
Fourth, Mr. Rifkin said, we shall approach a risk-prevention era from risk-taking age for sustainable development; he said, we shall make the kind of risk prevention regulatory regime to ensure environment safety, also need regulate the economic behaviors at global level. He states, for this point of view, that the Europe has leaped ahead of the U.S. to become the most environmentally advanced political space in the world
What are the strengths and limitations of each of Mr. Rifkin’s positions on the matter?
Explanation / Answer
1) Free global market is effective in allocating resources efficiently. It does encourage specialization in opeartions or processes which leads to economies of scale and cost to fall and welfare of society.
However, the nations which export primary commodities tend to have less profitability as calue addition is done by manufacturing process so this may lead environmental destruction to gain excess profit. Also, economic cycles is the undeniable part of capitalism and it does create severe problems for weaker section of society in the times of recession.
2) Sustainable developments is really the key for overall welfare and well being of the society. Rapid growth brings investment and wealth in very short period but the rate of growth which is not natural soon starts overheating of economy and it create far more havoc.
A goal of sustainable development is if desired then it needs some government regulation or intervention which could hamper free market principles and their is also possibility of overly strong bureaucracy.
3) The idea of regulating harmful dvelopment is very good on paper but ineffective in real. Innovation could not be regulated and it has been never possible in the history. It is the end user whose action decides whether it was good or bad. Computers and interner were devloped for raising efficiency but they were also used for hacking and cyber terrorism.
However, biological and chemical weapons have clear intentions of destruction so these should be barred. Also in the list should testing drugs on animals and humans in which an error could cause serious negative effect on health of those animals.
4) Risk taking is the primary charactristic of innovation and enterpreneurship. It also creates new technologies, new products which disrupt the conventional market and help society in the long run. Discouragement of risk taking will not be useful in long term.
However, it is strongly agreed that the efforts should made for sustainable development and for protection of environment. There should better checks and balances through laws and regulations for monitoring the activities which will discourage excessive profit making and excessive risk taking.
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