They all illustrate what economists term asymmetric information. Coined by the Noble Laureate George Akerlof , in his paper titled “The Market for Lemons”, he demonstrated how different information that sellers impose on buyers lead to decisions ending in undesirable market outcomes.
So, what do these have to do with palm oil? Well, just like the KKK, European public opinions on palm oil are highly orchestrated to create a state of fear –fear of an unknown, even invisible commodity, produced in an unfamiliar corner of the world that many have never stepped upon. Regardless of whether that fear is justified or not – it comes from woefully inadequate or asymmetric information.
However, it is finding the wrong answers. Palm oil-producing nations see sinister forces at work: EU governments that keep out palm oil imports to protect their domestic rapeseed farmers. Or food processors and supermarkets using cheap marketing gimmicks to increase their sales of products labelled as No Palm Oil.
In election after election, European political parties portraying “green environmental manifestos” have systematically gained power, putting the protection of the natural environment and climate on top of their agendas. The plastic crisis is but one example of when European rhetoric and actions do not match. In fact they happily ship their plastic waste to our parts of the world! The same is true for not meeting the CO2 reduction targets of the Paris Agreement, overconsumption of meat and growth in per capita air miles travelled.
While that observation surely is accurate, it misses the finer point: There is also only one planet in the sense that environmental degradation and air pollution in one place affects the entire globe. Greenhouse gas emissions certainly do not stop at national borders. What Europeans do not realise is that if global warming is human-made, it is they who need to change more than almost anybody in the world. If Hans in Berlin, Pierre in Paris, and Pedro in Madrid want to do something about climate change, they better put on their seatbelts. It will be a bumpy ride.
Blunt, yet lovely article to read.
When Europeans plant grapes, wheat, barley, rapeseed, do they clear forests? Or they have technology to plant these crops on forest canopy?
Hipocrisy the most prevalent human behaviours in 21st..some justified and some wanting it to be justified..chedetofficial anwaribrahim limkitsiang guanenglim AzminAli DrDzul mpklang
We replant bamboo
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