Final answer:
Green economics emphasizes a cost-effective approach to sustainability in economic practices. It takes into account externalities and uses marginal analysis to ensure efficient resource allocation, contrasting with global practices that may cause environmental harm. Op-ed pieces promoting such policies are considered normative statements.
Step-by-step explanation:
Green economics and politics focus on a more cost-effective alternative for every part of the economy. The correct answer is d. Cost-effective. This concept aligns with the pursuit of environmental sustainability while also ensuring economic efficiency. Green economics integrates ecological health, social equity, and economic viability to create solutions that benefit the whole society and the planet.
One aspect of green economics is the consideration of externalities, which are the costs or benefits that affect third parties. An example of a negative externality is pollution, which harms the environment and public health. In contrast, a positive externality is a benefit that is enjoyed by a third-party, such as the improved air quality resulting from green policies.
Marginal analysis is used in green economics to determine whether the marginal costs of an activity, like pollution cleanup, are outweighed by the marginal benefits. If the costs exceed the benefits, resources could be allocated more efficiently elsewhere in the economy. Critics of globalization often argue that it leads to negative externalities, such as environmental degradation, which contradicts the principles of green economics.
An op-ed piece advocating for a specific economic policy is a normative statement because it reflects opinions and subjective statements about what ought to be, rather than what is. Those promoting green economics would typically write normative statements about what policies should be adopted to support sustainability.