Economics and Environmental Degradation

Wolfgang Buchholz, Christiane Reif and Dirk Rübbelke
Additional contact information
Wolfgang Buchholz: University of Regensburg
Christiane Reif: Landshut University of Applied Sciences
Dirk Rübbelke: TU Bergakademie Freiberg

Chapter Chapter 1 in Foundations of Environmental Economics, 2024, pp 1-22 from Springer

Abstract: Abstract This chapter explains why economics has to play a central role in dealing with environmental problems and how environmental economicsEnvironmental economics may serve as a valuable complement to natural sciencesNatural sciences in finding solutions to environmental challenges. In particular, it is expounded how economic processes are generically embedded in ecological cycles and how pollution has serious effects on ecosystemsEcosystem and human well-being. This chapter then describes that the market system usually fails to address environmental problems in an adequate way so that environmental policyEnvironmental policy is needed to internalize the external effectsExternal effects caused by pollution.

Keywords: Extraction effect; Disposal effect; Emission; Immission; Flow pollutants; Stock pollutants; Environmental sinks; Direct and indirect utility effect; Neoclassical economics; Ecological economics; Pareto efficiency; External effects; Market failure; Social optimum; Climate targets; Pigouvian tax; Internalize externalities; Net-zero emissions (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-031-63481-9_1

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DOI: 10.1007/978-3-031-63481-9_1

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