In this class we spoke about Sustainable Industrial Development. Economies/Firms not only focused on Economic Development but also environmental well being. We discussed how gradually countries/ economies were moving from a ‘linear model’ to a more ‘circular model’, taking into consideration not only private costs/ benefits, but externalities too.
We learnt about the IPP toolbox which consisted of ways and means adopted to provide an incentive for firms/countries to take into consideration external costs/benefits too. We discovered that an average American citizen consumed 75 times the energy an average Indian/Chinese consumed! If this continued, we would end up exploiting all our non-renewable resources, having left none for the future generations. Developing economies like that of India/ China are taking into consideration the social costs/benefits, rather than just the Private Costs/ benefits.
The first presentation was about Green tech and Industrial development in India and China. It explored the measures India and China are taking to ensure sustainable development. The second presentation was about Sustainable Development, Indian perspective. A question that we were faced with was why developed countries should help developing countries with technical aid. Many of these countries give aid only because they get something in return, for example a release of barriers of protection. Usually, these aids are with strings attached. I wish we discussed this in detail during class. Most countries don’t help due to moral obligation, but due to self motive.
I’d rate this class 9 out of 10. The topics discussed were of present day concern. The presentations were all to the point and informative.
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