GEOG 216 Lecture Notes - Lecture 6: Kyoto Protocol, Neoliberalism, Carbon Credit
4 Apr 2016
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Valuation of nature:we have markets that will set the prices based on the law of demand and supply. Local markets vs. global markets (larger in scope) Dalian commodity exchange (china) (fastest growing; important for soil beans, palm oil) Trading at exchanges can be important for: Immediate purchases (negotiated on the spot, determined immidiatly = spot trades") These commodity exchanges (markets) are seen to be every efficient price setting mechanisms, because they respond very quickly to demand and rise and create a equilibrium price. Yet, do not account for broader environemental impacts of extracting and using a resource! 1) anything that is not quantifiable is neglected or underplayed (loss of species habitat) Economy is seen as separate from the natural world. Only has meaning when it affects economic processes i. e. treating nature as object. 1) scientific innovations; where technological and scientific knowledge. 3) location of raw materials and natural resources,
