Should rich countries be required to reduce their consumption levels?

How could this be encouraged or enforced? what should be done about environmental problems that are caused mainly by one region, but affecting others?Should rich countries be required to reduce their consumption levels?Reducing consumption levels would increasing the savings rate of the people in rich countries. So this makes sense as a policy objective when considering countries such as the US and UK, where low savings rates have caused multiple problems.



In other countries, were the savings rate is higher, it's not really necessary. So the point is that we can't say that all rich countries need higher savings rates, but some sure could benefit.



As far as what kind of policies could increase savings, I can think of a few. One thing that has worked in Canada is the Tax Free Savings Account. Basically it's an account in which you can deposit $5000 tax free to banks and other savings platforms. It gives people an incentive to save more. Alternatively, you could do like China and get rid of all unemployment and pension schemes, forcing people to have a high savings rate in case something happens. A third policy to increase savings rates would be simply increasing the rates that banks are required to pay on deposits. Any of these could work.



As for environmental problems, well that's a whole different can of worms. They are externality cost. There is a lot of literature that talks about how to get people to take into account externalities. The general consensus is a tax to account for the cost. If there can be some sort of tax which can be levied on polluting countries and given to non-polluting ones, this would make sense.



There's two problems with. One is that it is impossible to enforce. The second is that it doesn't take into account the historical context - rich countries got to develop on dirty, cheap energy while poor countries are now being chastised for trying to do the same.



The solution to the first is to impose the cost on companies instead of countries - that way it becomes possible to enforce. The answer to the second is to have developed countries help developing countries access clean energy.Should rich countries be required to reduce their consumption levels?
What do you mean by consumption? Consumption of oil and things that exhume greenhouse gases or consumption like its used in general economics?



If we are talking about mitigating climate change by lowering consumption then that is a very difficult thing to do. High consumption generally means high living standards and I don't think rich countries are going to give that up especially rich-to-be China.



There is no easy way out of it. Stopping climate change unfortunately has to come at the expense of living standards. Whether or not you support voluntary organizations or government to do it is a different question.Should rich countries be required to reduce their consumption levels?Here is a mind bender... The poor are the worst environmentalists. Thus environmentalism is the luxury of the rich. The basis of this economic truth is subsistance living only allows for immediate needs of the person or persons and what nature can give to them without consideration of endangered species, plants or CO2 emissions.



Knowing this... should we enforce the environmental laws of the rich nations on the poor?Should rich countries be required to reduce their consumption levels?
We (U.S.) should, but it has to be mostly voluntary. Congress %26amp; the Pres. can only do so much if it's against the will of the people that elect them and can unelect them. Education is the key. And continuing to drive home the message that we're in this world together and self-centeredness is not the answer..Should rich countries be required to reduce their consumption levels?Only if you want them to reduce the amount of wealth that they create. The surest way I could get you to stop working would be to tell you that you can't spend what you earn in the manner you want to.Should rich countries be required to reduce their consumption levels?
no. It will be hard to encourage and impossible to enforce.



Environmental problems should be resolved by introducing energy-efficient equipment, sustainable technology and recycling.