The market can destroy natural resources

 Market Externalities:

Market Externalities mean decision-making problems, like what should be left in the market and what should be provided outside the market. These are specific positive and negative consequences in the market. For example, without regulation, the market can destroy natural resources. To keep up with the people’s demands, people can exploit natural resources for excessive production and services. Another way of Market Externalities could be the death of people who were sick and disabled, who couldn’t buy food from the market. This situation happens because of the unequal distribution of wealth.

To solve this problem, society can act by adding an extra tax on cigarettes for ruining health. They can also provide essential food to all for free.

Coffee:

Finding an adult who doesn’t drink coffee in Canada won't be easy. So, there are a vast number of coffee consumers in the country, and different brands of coffee are available here. Because of the vast number of coffee consumers, we can be united and fix the problems of the market externalities.

First, we need to create awareness among the general coffee consumers so that everyone can be united and pressure the corporations to fix all kinds of problems in different layers of production and selling. All problems can not be solved in one day. Everyone must be patient and fix them one after another.

For example, we must create awareness of the poor people who are involved in the development process of coffee bins. We may share pictures and videos on social media or get help from any non-profit organization that helps these people or works with environmental justice. So that all information can be accessed through the news media and other channels. We must make our voice heard for the poor farmers. And send messages to the corporations that are directly involved in this process. We have to offer them a company that will take responsibility for caring for poor farmers without increasing coffee pricing. We will all buy coffee from that company. We must keep our word if any company takes the initiative, so those farmers can be safe from harmful plasticizers attacking their lungs.

If we start seeing success, then we can focus on other issues. For example, farmers are now producing excessive amounts of coffee to meet the demand and profit. This way, they cut most trees in the forest to cultivate coffee beans. So, many problems, like soil erosion, started. We must come to a solution to this problem so that the farmers won’t face the problems and there will be fewer environmental problems, such as using indigenous ways of cultivation. In this way, they cultivate different crops at the same time. One tree protects another. Or any other scientific way. We must give that information to the farmers through governments and corporations, which will be very helpful for the environment and the whole world. Birds will increase, and the farmers will see fewer pest attacks.

Apart from environmental issues, we must also consider the social and political issues as consumers. We know that corporations will only show interest in fixing problems if they see some benefits. So, we must bring benefits for them too. They need to get some government rules and regulations too, so they have no choice but to take good initiative in the whole process. The government will take policies to help reduce market externalities when they find that their vote bank will like this and give votes to them. Which means we will have to create somewhat win-win situations.

In the end, we can say that the coffee we consume is made through different processes in different countries. In between, corporate companies also change. So, it is tough to fix any problems because everyone will push the reason for problems to the other group. As it is developing in different countries, the government policy differs in different countries.