To what extend should economic planning be influenced by the needs of environmental conservation?
According to Selman (2000), it is axiomatic that economic planning is closely influenced by many different considerations. Some individuals argue that environmental conservation is among these considerations. On the other hand, others are of the view that, no relevance exists between environmental issues and economics. This essay aims at proposing an approach that is balanced.
Kornai, Maskin and Simonovits (2000) suggest that the amounts of money that governments need to spend on environmental conservation need to be satisfactory. As a result, the governments can earn a lot of money. What these means is establishing projects that are profitable, like “recycling”, which will ensure that the financial resources of the country are enhanced. Therefore, such environmental needs should be taken into account by the environmental experts, and in results, more practical, precise, accurate and appropriate annual plans will be developed (Selman, 2000).
Nevertheless, for many individuals especially in countries that are developing, are of the view that, economic planning is exclusively affected by other factors that include health, employment and educational requirement (Kornai, Maskin & Simonovits 2000). They view conserving environments to be just a luxury. According to those individuals, instead of governments allocating money for the environments sake, it should be used to feed thousands of children that are starving or live in poverty. For example, for a country like Sierra Leone, the financial priority of the country should be directed towards the countries reconstruction after the many years that it has been in war.
To sum up, it is clear that different countries face different circumstances depending on where they live. Hence, they need to determine their needs accordingly by balancing all considerations. Since what is relevant for one country, for another country could be a waste of money.