Tuesday, August 19, 2008

Productive Use of Resources

Most people are "green" to the extent that they feel resources should be used wisely. Unfortunately, it is at that point that things become subjective. My definition of wise use of resources may differ from yours. It can depend on differences in our time preference (over what period of time); it can relate to our differing prioritization of wants ("want" vs. "need"); and it can depend on our perceived opportunity cost (what do we each give up) compounded by externalities (do we bear all the cost and/or receive all the benefits).

This piece in The Economist was interesting because, while it discussed the use of resources that many of us would feel are unproductive, it pointed out that there are benefits to (re)using the resources, as well as costs. I think it offers a good conversation starter or capper when discussing resource use and the constraints people face when applying resources to wants.

I look forward to your comments.

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