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Philosophically, it was guided by a mind-set strongly get on in neoclassical economics, which tended to assume that the physical resources of the planet were limitless and would not constrain growth; did not recognize that thither may be limits to the planets ability to absorb waste and pollution; equated an expansion in economic activity, commonly measured as the total quantity of goods and services consumed in terms of swinish domestic product (GDP), with concepts such as progress and outgrowth; and treated many social and environmental be as externalities, which meant that the cost of repairing environmental or social damage associ ated with producing or down particular prod! ucts were not reflected in the cost structures of producers or the prices that consumers in the end paid. In theory, such externalities should be cover through the taxes raised(a) from consumers and producers (among others) by governments. In practice, however, the voting preferences of consumers and the lobbying power of businesses hand over ordinarily deterred governments from raising sufficient taxes to fully cover the unmet costs of economic activity. If you want to get a full essay, distinguish it on our website: BestEssayCheap.com
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