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Reflection Paper 3, Write a two-page, double-spaced, 700-800 word Reflection Paper

Write a two-page, double-spaced, 700-800 word Reflection Paper responding to the following questions and reflecting on the material covered in class and the readings:

Overall, do you think that market mechanisms that assign financial value to elements of nature are good or bad for environmental protection? Why? In your answer, make sure to consider the following questions: Why do proponents of market mechanism say they are necessary to save the planet from environmental crisis? Why do critics say this would be a horrible idea, and what alternatives do they advocate? What evidence does each side provide? What ethical, political, and regulatory questions are raised?

Reflection Paper 3
I think that the market mechanism, which assigns financial values to the specific elements of nature are good for environmental protection. It is because nature should not be measured in financial value. Since, the value of environmental protection and nature is significant and qualitative in nature. In most occasions, the assigning of financial value on nature encourages the long term investment on environmental protection. The market mechanisms and processes usually work well. The market mechanisms are holistic in nature as they involve the businesses and individuals. Such a program cannot be underestimated in its efficiency and effectiveness to promote environmental protection (Dryzek, & Schlosberg, 2005). I would recommend the market mechanisms for the protection of environment. I agree with the numerous economic policy makers who proposed the implementation of market mechanisms and tools.
In the U.S, it is clear that the economic interests have been used to ensure that the firms and individuals are focusing on the environmental harms. The market oriented policies seeks to ensure that the firms deals with the environmental problems such as the limitations of skills, absence of political will and obstacles within the stakeholders. The challenges relating to market solutions should de dealt with through integrated efforts from the different stakeholders. Policymakers in the different level of government are critical in shaping the partnership of private firms and non-governmental groups to create and implementation of economic incentives.
It is clear that properly structured and implemented, market based mechanisms that assists in the regulation of the environmental behavior through price tools rather than explicit guidelines. For example, government incentives to the businesses would influence them in acting in a more environmentally responsible way. The businesses put more efforts on environmental protection goals alongside their financial and wealth maximization goals. Largely, the market mechanisms are efficient and useful in influencing reduction of environmental emissions from the pollutants.
The proponents of market mechanism explain that it is important to save the planet from the environmental crisis to protect the markets. Without proper environmental protection, the businesses would not have healthy customers to purchase their products. The proponents of the market oriented policies works on the program as a corporate social responsibility initiative that shape the business environment. The proponents of the market mechanism note that it is the responsibility of the businesses and individuals to protect the planet from environmental destruction (Layzer, 2015 – Research Paper Writing Help Service). As organizations and individuals living in the universe, each individual has a responsibility to protect the environment.
The critics argue that the market mechanisms do not bring visible benefits to the consumers. Even though the costs of the mechanisms are plan, there are lacks proper way to determine the environmental benefits of the mechanisms to the consumers. Also, they argue that firms do not have proper internal incentive processes to reward the managers who adopt the market based tools. In most firms, the environmental costs are not fully assessed and could not be charged back to the business divisions.
In addition, most environmental officers in organization focuses on risk management rather than creating opportunities from the benefits obtained from the environmental actions and decisions. The critics assumes that if the corporate culture remains unchanged, the overall potential of the market processes’ cost effectiveness and increased incentives for technological adjustments cannot be determined. The critic suggests nonmarket based programs such as governmental environmental protection initiatives. The alternative is argued to be more effective as it is backed by legal and regulatory mandate.
The ethical, political, and regulatory questions that emerges from the market mechanism is the tax regimes to be adopted and concerns on the benefits to the consumers despite being charged for the cost of the mechanisms. Political policies and will to support the environmental protection efforts is a huge concern. For example, most conservatives in the U.S do not agree with the need to invest in market mechanisms to control environmental crisis (Dryzek, & Schlosberg, 2005). Such challenges create concerns on the ability to enhance the environmental protection efforts. Considering all arguments, I think that the market mechanisms are useful in dealing with the inherent environmental crisis in the society today. However, government should work with the businesses and individuals to the shape the market solutions to environmental problems.

References
Dryzek, J. S., & Schlosberg, D. (Eds.). (2005). Debating the earth: the environmental politics reader. Oxford: Oxford University Press.
Layzer, J. A. (2015 – Research Paper Writing Help Service). The environmental case: Translating values into policy. Washington, DC: CQ Press.

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