Tradeoffs: More Goods And Services Might Mean Less Clean Air

In my macro classes this week, we covered opportunity cost, the idea that there is no such thing as a free lunch. See Pollution highlights the price China is paying for rapid development by David Piper of Fox News. Excerpts:

"Beijing has developed into an impressive modern city over the past two decades. But a tourist visiting the Chinese capital over the past four days would have difficulty seeing many of its ancient and modern landmarks because of the horrendous pollution hanging over the city."

"The Beijing Municipal Environmental Monitoring Center is recommending that children and the elderly stay indoors.

Local media has reported a sharp rise in people seeking treatment at hospitals in the capital for respiratory problems."

"According to the Beijing authorities, measurements show the air containing more than 700 micrograms per cubic meter in many parts of the city over the weekend.

To put that into context, the World Health Organization considers it safe to only have as much just 25 micrograms per cubic meter."