Basics of Environmental Economics

Hans Wiesmeth ()
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Hans Wiesmeth: TU Dresden

Chapter Chapter 4 in Environmental Economics, 2012, pp 45-52 from Springer

Abstract: Abstract Not unlike regular commodities, the state of the environment affects the well-being of mankind – locally and globally, in the short run and in the long run. 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, which are and have been relevant for any economic system in any period of time. The concept of environmental economics refers exactly to this situation and does not imply or intend a subordination of the environment to the economic system. In view of these remarks this chapter then introduces the concept of an environmental commodity and discusses relevant, characteristic properties. Moreover, the integration of the environment into the economic system leads to interesting details regarding economic efficiency and environmental pollution.

Keywords: Market Economy; Economic System; Allocation Problem; Market Mechanism; Ozone Layer (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-642-24514-5_4

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DOI: 10.1007/978-3-642-24514-5_4

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