Economics is an area that concerns itself with supply and demand. Normally we would focus on costs and benefits. For example, I buy a bottle of water, I drink the water; the result is that I am no longer thirsty. However this is ignorant economics. Green economics requires that we deeply investigate externalities (other outside costs of the transaction). Such as how carbon neutral the company that made the water is, whether the company invests in green technology or green charities, what kind of plastic used etc. Thus a company can now spend money on making their business more “green.” While this would have been wasteful in terms of profit before the green revolution, it is beneficial now. Spending money to save the environment makes a consumer interested in sticking with that company. A revolution is taking place that is transforming the world into something sustainable and it starts with the consumers. We must all make a conscious choice to “go green.”
As with the development of any new emerging technology (like the personal computer! and its successors…smart phones, iPods, etc.), green technologies generate a new market niche for consumer supply and demand, and, of course, they create jobs. It will also likely revolutionize the way we do business, as information technologies did in the 90s (by streamlining innovation with instant, global information access).
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