This paper will give summary of the main ideas in part III. Thee many facts that are discussed by eth authors are also summarized here. In the book, the chapter talks about this thing. In the chapter, the author argues that the flattening if the world created two billion consumers and not competitors alone. This flattening of the world has made the consumers to demand for more energy. With all these demands, the author argues that there is a need to have additional clean and renewable energy. These additional needs have affected energy and food prices. The environment and global warming has been affected from this. This is the problem that we are grappling with. The author argues that China realized this and started investing in solar, wind and battery energy. While China invested in these alternative sources of energy, America did not aggressively invest in these alternative sources of energy. They underestimated the investments in alternative energy and did not focus much on this aspect.
The increase that has been seen in the quest for electricity and additional resources is the revolutions and the change of lifestyle. There is also depletion due to the need to have electricity for human consumption. The authors argue that human beings depend on electricity for most activities that they do. This has resulted in global warming. The burning of fossil fuel emits carbon dioxide which is responsible for global warming. In this paper, it will be proved that the provision of renewable sources of energy will reduce global warming in significant levels. Many governments are working hard to ensure that the levels of dependence on the environment for sources of electricity are something that has increased global warming. The environment has changed from the pollution that was initially caused by the crude source of energy. Use of oil and petroleum products has had an effect on the environment due to pollution. Solar panel manufacturers could have effects on the environment due to the materials that are used to manufacture the solar cells. These materials could be harmful to the environment.
Electricity is an important component that lives revolve around. The current sources of electricity are conventional ones which are the ones which have caused global warming to be on the increase. The increasing population has led to industrialization. With this trend of global warming that is seen today, the environment will continue to be depleted and the lives of human beings will be affected. The whole world is in the quest to look for solutions to environmental problems which have been a menace when global warming has been the effect that is seen in the world. With the human activity being experienced in the generation of electricity, there has been an increase in the depletion of the environment. There is a need to have alternative sources of energy in order to save the environment.
One reason why there is a lot of demand for electricity is because there is limited generation of energy. Most people depend on electricity for their domestic and commercial use. Given the fact that alternative sources of energy have not been exploited, there is an increasing depletion of the environment. Solar energy presents a clean source of energy that will act as an effective alternative which is cost-effective for the masses. This will decrease the demand for electricity. This will in turn decrease the generation of electricity using conventional means. The environment will therefore be conserved with the use of renewable sources of energy. This will lead to a decrease in the effect that a depleted environment has on global warming.
Part III of the book shows that there are fiscal policy implications that come due to borrowing and debt. This section shows the power of borrowing and that an entity can have a huge debt and also has great boring power. If the entity is suddenly called to pay that debt, then they will be able to pay that debt without any much challenge. There are arguments by the authors that when the international monetary system fell, the dollar that was tied to the gold price and also was used to fix the interest rates. At the time, Nixon did not want the country to undergo a depression and deficit that could come as a result of spending on Vietnam. There was ballooning that was hard to overcome. The effects of these deficits and ballooning effect took a long time before they started.
When time goes by, there will be some effects in fiscal policy and debt. This is shown in Reagan government what happened. The authors take Dick Cheney to task from the comment that he made that Reagan showed Americans and the whole world that deficits do not matter in a country’s economy. The authors show that Reagan was worried about the deficits and did everything to fight the deficits. Reagan had to bring taxes and referred to them as revenue enhancements. This was a way of justifying the revenue. It was also a way of beating the deficits.
There is also the important aspect of social care and reforms in healthcare. The authors talks that more value should be added to life rather than add more to the end of life and leave life itself to be miserable. The authors argue that there should be more care being taken to life and not have more energy and resources being wasted to the end of life. There is a need to have reduction of budget and other entitlements. These should be reduced in order to have a better fiscal policy. There is also the need to cut the budget that has been allocated to defense. It is quite clear that significant changes in health care policy are mandatory failing which rising costs for health care will ultimately lead to government spending growing much faster than the economy, a phenomenon which may not be sustainable under government budget. The US health care system, for instance is facing substantial trouble.
Climate change is the most talked about factor in this chapter. . They argue that climate change is something which is real and should be corrected. There is the popular global warming debate that has been going on for a while. This issue has been blamed on industrialization. It has been claimed that with urbanization taking shape and with many industries coming into shape, there harm which is directed at the environment. This is the reason as to why many people have been concerned with the events that have been taking place and that are seen to be affecting the environment. One of the major problems that have been experienced in the earth is that of climate change that has caused a lot of environmental degradation and challenges. The issue of climate change has direct and indirect effects on human beings. One resultant of climate change is global warming. One effect of global warming is its effects it has in agricultural fields which are a cause for decrease in water supplies. Due to this water shortage there is inadequate irrigation thus less quality and quantity of produce.
In conclusion, the issues of global warming and the revolutions that come from IT are well taken care of. Most of the arguments are being discussed in various conferences.
