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Introduction
Economics is a fascinating area that has to be understood by all and sundry for economic stability. This paper will look at two areas of economics that are green and regular economies. Research has been carried out by many people as regards these two economies, in a bid to understand the differences between the two. However, many researchers at the end of it all come to appreciate the fact that there is minute and mostly unnoticed differences between what is called a regular economy and a green economy. Maybe to establish the existence of such a difference, a little discussion of factors associated with the two economies can help (Shannon 93).
Body
Researchers and scholars define a regular economy through its characteristics as an economy that is known by its high demand level but with a price equilibrium vector that ranges at a non-zero. Graphically represented, the high demand factor in a regular economy leads to a locally unique slope that can be used as a measure of the economy’s externally accelerated shocks and how it responds to them. This explains why any economy that at least has some bit of initial beginnings above zero level is considered as a regular economy (Shannon 90).
Then there is the green economy. This is a type of economy mostly focused on environmental sustainability and energy consumption issues. It is an economy that seeks to support sustainability in the environment by insisting on a zero-level carbon emission trend. However, for an economy to be termed as green then all its constituent aspects must be in line with the requirements of a green economy, right from the general outlook to employees and facilities set in place.
Such an economy is characterized by a renewable energy nature that calls for zero percent carbon emissions, use of water and wastes for sustainability, maintenance of the ecosystem, support and advocation for the culture of the people, and high regard of dignity as social virtue and a locally based foundation and basis of economic standing.
From the above discussion, some differences between the two economies can be drawn out. First, there is the issue of zero and non-zero scales. While the regular economy goes to a non-zero vector range, the green economy works from a zero vector range (Bier 72).
The green economy has many factors that cannot be held constant for it to survive. The qualification of an economy as being green entirely depends on how well it complies with such factors and meets the set requirements. On the other hand, apart from the non-zero vector range issue, an economy can easily be termed as regular without much ado (Shannon 92).
While the regular economy focuses much on examining and measuring the external shocks that may affect the economy, the green economy channels much of its efforts towards the sustainability of the economy. Critically, it’s not enough to measure the shocks, but the action of ensuring the shocks is not experienced is considered more valuable. Though not stated directly, the green economy tends to do this in a bid to remain sustainable (Shannon 82).
Conclusion
Lastly, it’s notable that both the regular and green economies have an aspect of the locality. Regular economies graphically show local uniqueness while the green economy is locally rooted. It’s on this basis that researchers tend to lack the difference between these two economies, as the locality aspect is critical in their understanding.
Works Cited
Bier, Willy. Saddlepoint stability and a regular economy: an example. Canberra: A.N.U., 1975. Print.
Shannon, Ray. Green Economy. New Delhi: World Technologies, 2012. Print.
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