Basics of Environmental Economics

Hans Wiesmeth
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Hans Wiesmeth: TU Dresden, Faculty of Business and Economics

Chapter Chapter 4 in Environmental Economics, 2022, pp 61-69 from Springer

Abstract: Abstract Not unlike regular commodities, the state of the environment affects the well-being of humanity – locally and globally, in the short term and in the long term. It is therefore quite natural to integrate the “environment” into the economic system, to analyze the “environment” in the context of the economic allocation problems that are and have been relevant to each economic system in each period. The concept of environmental economics refers precisely to this situation and does not imply or intend to subordinate the environment to the economic system. In view of these remarks, this chapter then introduces the concept of an environmental commodity and discusses relevant, characteristics. Moreover, the integration of the environment into the economic system leads to interesting details regarding economic efficiency and environmental impact.

Date: 2022
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DOI: 10.1007/978-3-031-05929-2_4

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