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Jose answered on
Jun 05 2022
International Economics
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Introduction
We are living in a society and it is duty of the authorities to make sure that they are implementing effective tools and methods for managing the societal issues or problems faced by the people. Due to the impact of globalization and other recent trends the people are facing different problems. A social problem is a societal issue that makes it difficult for people to reach their full potential. Countries such Australia and US spending more fund for managing the social problems faced by the citizens. In this research paper we are analysing the two significant societal problems; inequality and environmental issues in a detailed way. We are also analysing the methods or strategies for managing the issues related with environment and inequality.
Issue 1 – Environmental Issues
Statement of problem or issue
There is a vital relationship between a society's well-being and the quality of the environment in which it lives. Many environmental challenges, such as waste overproduction, habitat loss, and contamination of our air, water, and other resources, can degrade the quality of life on Earth in today's global civilization. Environmental problems are the negative effects of human activity on the natural environment (Kaiser et al 2022). Environmental change is a social justice problem as well. The consequences are usually severe for some groups than for others. People with less social, economic, and political clout are more likely to suffer negative consequences from pollution, resource scarcity, extreme weather events, and other environmental issues.
Interpretation and critical analysis
Conflicting interests in natural resources and environmental protection produce environmental challenges. Aside from these issues, social movements see environmental disputes as a crisis of democracy and participation, as well as a cultural and ethical crisis, due to the uneven power relations and contradictory systems of values and norms at play (Matten et al 2022). Environmental movements are calling into question traditional national politics and perhaps states themselves as new actors enter the political arena. Traditional political parties are losing members and votes, while green parties and more spontaneous political groupings are gaining clout.
Because of the growing need for food, shelter, and other natural resources, the increased human density throughout the cosmos is putting pressure on nature. This, in turn, has an impact on nature. Changes in land use patterns are a major cause of environmental deterioration. Cutting down trees and destroying forests and aquatic habitats are putting the world on the verge of a global warming disaster. The extension of agricultural fields by erasing forests, u
anization, industry, infrastructure building activities, cars, power plants, usage of pesticides, and chemical pollutants all contribute to an increase in pollution and environmental deterioration (Mo
ison et al 2022). Another hazard to environment is a decrease in the amount of ground water. Wetlands are rapidly disappearing. Government initiatives are frequently in conflict with nature. This must be closely watched. People are unconcerned about the environment. Biodiversity loss is a hot topic these days. Overexploitation, poaching, illicit trafficking, and habitat degradation are threatening world biodiversity. If left untreated, this will cause severe issues. Natural disasters degrade atmospheric conditions. This, in turn, accelerates global warming and climate change. The rising temperature will become unbearable over time. We have no idea what will happen in 20 years.
Critical Comparison of Differing Perspectives of Each School of Thought
Free Market Capitalism
There can be little doubt that overcrowding, as well as the vast industrial outputs of both wealthy and developing nations, have an i
eversible negative influence on the environment (Chen et al 2022). However, environmental concerns inherent in the dynamics of capitalism as a worldwide economic system are frequently overlooked in their diagnosis. Capitalism, defined as profit-making in a competitive market, is an economic system in which the private profit-maximization paradigm underpins both its virtues and flaws. Its strengths are shown in its high production and growth rates. Profit maximization logic drives producers to specialize in what they do best and invest in cutting-edge technology to boost production and efficiency. Over utilization of resources for meeting the needs of the people create different problems to the environment
Doughnut Economics
The phrase "Doughnut Economics" was invented by British economist Kate Raworth in a study published in Oxfam in 2012, and she later expanded on it in her book "Doughnut Economics: Seven Ways to Think Like a 21st Century Economist." In both, she suggests a new humanist economic model, a tool that many communities across the world are beginning to employ (Chen et al 2022). The Doughnut formula idea is a shift in economic paradigm in response to humanity's biggest challenge: alleviating worldwide poverty while remaining mindful of the planet's limited natural resources.It gets its name from the fact that it is visually represented by two doughnut-shaped discs: the one in the center is the social foundation, which includes basic fundamental rights, and the one on the outside is the ecological ceiling, which cannot be exceeded if we are to ensure humanity's prosperity. The doughnut in the center represents the space in which mankind may advance if the planet's limitations are respected. Both circumferences co
espond to the UN Sustainable Development Goals (SDG).
Recommendations
Environmental contamination may be avoided, which can save lives. There is much scientific data demonstrating how environmental, chemical, and air pollution, as well as climate change, endanger and harm our health. Environmental management is a
and-new and ever-changing idea (He et al 2022). Environmental management is concerned with the environmental management of a firm. It denotes the organizational structure, responsibility sequences, methods, and prerequisites for implementing an environmental company policy. The environment encompasses all inanimate organisms and natural forces, including man.
The first technique to decrease pollution is to employ the 3Rs...