“Global Warming is defined as the increase of the average temperature on Earth. As the Earth is getting hotter, disasters like hurricanes, droughts and floods are getting more frequent.” (Lindinger, 2009). Over the last 100 years the average temperature near the earth's surface has risen a little less than 1˚C. This doesn't seem much but, according to scientists it is responsible for the increase in storms, floods and raging forest fires. According to their data a one degrees Celsius increase in the temperature makes the earth warmer now than a thousand years ago. Their data states that off the twenty warmest temperatures ever recorded, nineteen was from 1980 and the three warmest temperatures ever recorded was in the last ten years. The great concern is not how much the earth is warming, but how fast it is warming. There are natural temperature changes for example the ice age and the intermediate times, but these has evolved over 50000 to a 100000 thousand years. According to scientists we have never seen a temperature increase as fast as the one the past 30 years. The earth should now be in a cool-down-period according to natural effects like solar cycles and volcano activity, not in a heating-up face. All these facts lead scientists to conclusion that the global warming we are now experiencing are not natural causes but that man is responsible (Lindinger, 2009). The importance of this phenomenon is that mankind and wildlife are dependent on Mother Nature to survive and if we continue to pollute our home the way we do we will soon wipe ourselves of the face of the earth. The purpose of this study is to see if the market will ensure the efficient allocation of this scarce resource of if interference of the government will be necessary. In the following paragraphs I am going to tell more about the causes and effects of global warming and then we our going to discuss where the solution lies.

Greenhouse Gases which is supposed to be considered as lifegivers are now turning into lifetakers. This seems like nature's brutal irony, the gases that make life on earth possible is threatning to our existence.Greenhouse Gases consists of carbon dioxide, methane and nitrious oxide and are part of the earth's atmosphere. They heat up the earth and trap warmth emitted by the sun - the Greenhouse effect. Without them the average surface temperature would be -18 degrees Celsius but thanks to the Greenhouse effect the average temperature is 14 degrees Celsius (Kunzemann, 2008). Global Warming are caused by both natural causes and man-made causes. One of the natural causes are the release of methane gas from the arctic tundra and wetlands and are very dangerous for our environmet (Causes of global warming, 2010). Methane is the umber two most important greenhouse gas after carbon dioxide and the primary component of natural gas. It leaks through the earth's mantle, volcanoes, vents from the stomachs of millions of livestock, rises from wetlands, marshes, and coal mines, and bubbles up from all things decaying (Kunzemann, 2008). Man-made causes is the unlimited burning of fossil fuels for example coal, oil and natural gas to satisfy our need for energy and carbon dioxide is the gas that is responsible for the most warming. A molecule of methane traps 20 times more heat than a molecule of carbon dioxide and nitrous dioxide is 300 times more powerful than carbon dioxide, but because the concentration of carbon dioxide is so high it adds more warmth than any other gas to the atmosphere (National Geographic, 2009). According to the report's authors of the Tyndall Centre for Climate Change Research (2009) some of the catastrophes we face are, Sea level rises, unpredictable monsoons in India, Amazon die-back, and the desertification of Southwest North America (California and neighboring states).

According to my opinion I don't think the market will ensure the effective allocation of this scarce resource, because we live in the 20th century and it is well know that the developed countries are recognized for growth and industrialization. The more developed the world gets the more needs and higher levels of needs people want. This causes a higher demand for industrialized products and more energy resources which in effect raises the amount of pollution and contributes to Global Warming. This is a snowball effect and won't stop Global warming. The only solution for this problem is that the government interferes with carbon capping. How it works is that carbon dioxide emitters are given a quota of how much carbon dioxide they may emit without penalty (Boyd, 2009). For this system to work you need a simple, transformative and unsinkable climate protection system that over thirty to forty years works carbon dioxide out of the economy and replaces it with clean alternatives. The essence of this system isn't complicated. In your campaign, you must pledge to install a descending cap on carbon emissions with a goal of 80 percent reductions by 2050. Unlike John McCain, you must insist that polluters pay for all the permits they'll be required to obtain. Most of the money that polluters pay should be returned to families to offset the inevitable increase in energy prices. These are exactly the right core principles: return the money to the people, cap carbon and make polluters pay (Barnes, 2009).

The question if the market will ensure effective allocation of clean air is no and will need interference from the government to ensure effective allocation. The problem is that the increasing carbon dioxide emissions leads to an increase in the temperature of the atmosphere, know as global warming. Global Warming is threatening to mankind and to nature and if not controlled will kill. The solution lies in carbon cap-and-trade and if a firm doesn't use its credit it can be sold to other bigger businesses that emit more carbon dioxide into the atmosphere. This will ensure the existence of man, nature and the earth.

Source: Essay UK - http://turkiyegoz.com/free-essays/economics/global-warming slow-killer-of-the-earth.php

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