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Strong Vs Weak Sustainability
Weak and strong sustainability are terms that have emerged from the field of environmental economics and describe different approaches to sustainability, specifically in relation to natural resource management and economic development. Weak sustainability is applicable when certain natural and human capital assets are assessed as interchangeable, meaning that the use or loss of, for example, a reduction in natural capital can be considered sustainable if the simultaneous change in human capital meets or exceeds the value of the change in natural capital. It assumes that different types of capital can be measured and given value in the same way. Strong sustainability is applicable when a specific capital asset, typically a natural capital asset, is assessed as incommensurable or so valuable that it should be maintained or enhanced independently of changes in other, typically human-made, capitals. It particularly considers that certain natural assets have critical ecological functio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Economics
Environmental economics is a sub-field of economics concerned with environmental issues. It has become a widely studied subject due to growing environmental concerns in the twenty-first century. Environmental economics "undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world. Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming." Environmental Versus Ecological Economics Environmental economics is distinguished from ecological economics in that ecological economics emphasizes the economy as a subsystem of the ecosystem with its focus upon preserving natural capital. While environmental economics focuses on human preferences, by trying to balance protecting natural resources with people's needs for products and services. Due to these differences it can be seen that ecologi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
