User:NeomiSepulveda/final article
These are my recommendations for revision the article Environmental pricing reform
- include fast fashion as an example of implementing environmental pricing reform.
- include an "Environmental Impacts" section of pricing reform that includes fast fashion
- included the environmental impacts of fast fashion
- include what fast fashion prices reflect
Copied content from Environmental pricing reform; see that page's history for attribution.
Environmental pricing reform (EPR) is the process of adjusting market prices to include environmental costs and benefits.[1]
An externality (a type of market failure) exists where a market price omits environmental costs and/or benefits. In such a situation, rational (self-interested) economic decisions can lead to environmental harm, as well as to economic distortions and inefficiencies.[2]
Environmental pricing reform can be economy-wide, or more focused (e.g. specific to a sector (such as electric power generation or mining) or a particular environmental issue (such as climate change or Fast fashion). A "market-based instrument" or "economic instrument for environmental protection" is an individual instance of Environmental Pricing Reform. Examples include green tax-shifting (ecotaxation), tradeable pollution permits, the creation of markets for ecological services[3]
A similar term, "ecological fiscal reform" differs in more narrowly dealing with fiscal (i.e. tax) policies as opposed to using non-fiscal regulations to achieve the government's environmental goals.[4]
Environmental Impacts
[edit]Fast fashion
[edit]Fast fashion is a sector of the fashion world that quickly replicates high-fashion designs with extremely cheap prices (see Fast fashion). It's environmental impacts have greatly hindered any sustainability efforts, while it relies on cheap manufacturing, frequent consumption and short-lived garment use.[5] For each assortment, garment manufacturers have to source various types of fabrics and materials from different suppliers and get the garments ready for shipment. [6] Costs are largely reduced by taking advantage of lower prices in markets in developing countries.[7] Though fast fashion may be cheap, its prices don't reflect the environmental impact they cause. Pricing strategy used for fast fashion is reflective of the analysis of customers' willingness to pay. [8]
- ^ Thompson, David (May 2010). "The Power of Prices and the Failure of Markets" (PDF). The Edmonton Sustainability Papers. City of Edmonton. Archived from the original (PDF) on 10 May 2015. Retrieved 3 January 2015.
- ^ Mankiw, Gregory N. (2012). Principles of Economics (6th ed.). Mason: South-Western Cengage Learning. pp. 196.
{{cite book}}: Cite has empty unknown parameter:|coauthors=(help) - ^ OECD (2015-06-25). Taxing Energy Use 2015: OECD and Selected Partner Economies. Taxing Energy Use. OECD. doi:10.1787/9789264232334-en. ISBN 978-92-64-23232-7.
- ^ Beauregard-Tellier, Frédéric (17 March 2006). "Ecological Fiscal Reform". Parliament of Canada. Archived from the original on 3 January 2015. Retrieved 3 January 2015.
- ^ Niinimäki, Kirsi; Peters, Greg; Dahlbo, Helena; Perry, Patsy; Rissanen, Timo; Gwilt, Alison (2020-04). "The environmental price of fast fashion". Nature Reviews Earth & Environment. 1 (4): 189–200. doi:10.1038/s43017-020-0039-9. ISSN 2662-138X.
{{cite journal}}: Check date values in:|date=(help) - ^ Sardar, Shaheen; Lee, Young Hae (2015-07-16). "Analysis of Product Complexity considering Disruption Cost in Fast Fashion Supply Chain". Mathematical Problems in Engineering. doi:10.1155/2015/670831. Retrieved 2020-12-04.
{{cite web}}: CS1 maint: unflagged free DOI (link) - ^ Gazzola, Patrizia; Pavione, Enrica; Pezzetti, Roberta; Grechi, Daniele (2020/1). "Trends in the Fashion Industry. The Perception of Sustainability and Circular Economy: A Gender/Generation Quantitative Approach". Sustainability. 12 (7): 2809. doi:10.3390/su12072809.
{{cite journal}}: Check date values in:|date=(help)CS1 maint: unflagged free DOI (link) - ^ Bhardwaj, Vertica; Fairhurst, Ann (2010-02-01). "Fast fashion: response to changes in the fashion industry". The International Review of Retail, Distribution and Consumer Research. 20 (1): 165–173. doi:10.1080/09593960903498300. ISSN 0959-3969.