Pollution Impact
There are many forms of environmental pollution in the modern world. Pollutions have different levels of impacts depending on their quantity. Air pollution causes a myriad of health implications on the general public leading to them incurring medical costs (Friedrich, 2001). On the other hand, various organizations are investing into the technology in a bid to understand possible methods of reducing air pollution. This is an additional cost to the economy of a country. The realization of the impacts of air pollutions leads to individuals seeking to invest in behaviors that reduce the probability of contracting ailments (Friedrich, 2001). In accordance to this, air pollution is causing health implications of people and subsequent cost in monetary units.
Air pollution causes considerable damages to the health of human beings, flora, and fauna. Despite the impacts of these damages, they are externalities, and it is not possible to reflect them on the prices of goods (Friedrich, 2001). It is necessary to consider damages caused by these externalities in the decision making process of the impact caused by emissions to the environment (Bickel, 2003). Willingness to pay approach is a direct way of determining such impacts. The method quantifies the damage caused and its subsequent monetary transformation. There is internalization of the resulting external expenditure through charges, taxes, and there is the application of the same on cost benefits (Bickel, 2003).
Research indicates that most air pollution comes from Vehicle pollution. EPA indicated that the motor industry should manufacture motor cars whose effects should be below the no-effect threshold, but studies indicate that it is difficult to indicate such a threshold (Friedrich, 2001). This has the meaning that road transport remains as the single most pollutant means of transport. The worrying trend is that the number of motorcars is increasing at an exponential rate (Bickel, 2003). In accordance, intervention is necessary to curb the issue.
References
Friedrich, R. (2001). Quantifying the Costs of Air Pollution. Pollution atmospheric (2), 77-104.
Bickel, P. (2003). Environmental External Costs of Transport. Berlin: Springer.
