Got this from the New York Times – I notice that it was also on the Tutor2u blog. Excellent article that argues the point as to whether trees are public or private goods. Covers some basic economic terms such as:
*rational consumer
*tragedy of the commons
*free rider

The difference between private and public benefits explains why some local communities regulate tree management. But more profoundly, it drives a hardwood wedge between individual and social outcomes, with disturbing implications. Deforestation is contributing to global warming.

Great resource for Unit 3 of the CIE AS Level course or NCEA Level 3 Achievement Standard 3.3. Click here for the full article.

Leave a Reply

Your email address will not be published. Required fields are marked *