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Environmental Economists
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 ecological ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Classical Economics
Classical economics, also known as the classical school of economics, or classical political economy, is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. It includes both the Smithian and Ricardian schools. Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill. These economists produced a theory of market economies as largely self-regulating systems, governed by natural laws of production and exchange (famously captured by Adam Smith's metaphor of the invisible hand). Adam Smith's '' The Wealth of Nations'' in 1776 is usually considered to mark the beginning of classical economics.Smith, Adam (1776) An Inquiry into the Nature and Causes of The Wealth of Nations. (accessible by table of contents chapter titles) AdamSmith.org The fundamental message in Smith's book was that the wealth of any nation was determined not by the gol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pollution
Pollution is the introduction of contaminants into the natural environment that cause harm. Pollution can take the form of any substance (solid, liquid, or gas) or energy (such as radioactivity, heat, sound, or light). Pollutants, the components of pollution, can be either foreign substances/energies or naturally occurring contaminants. Although environmental pollution can be caused by natural events, the word pollution generally implies that the contaminants Human impact on the environment, have a human source, such as manufacturing, Extractivism, extractive industries, poor waste management, transportation or Agricultural pollution, agriculture. Pollution is often classed as point source pollution, point source (coming from a highly concentrated specific site, such as a factory, Environmental effects of mining, mine, construction site), or nonpoint source pollution (coming from a widespread distributed sources, such as microplastics or agricultural runoff). Many sources of po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externality
In economics, an externality is an Indirect costs, indirect cost (external cost) or indirect benefit (external benefit) to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer consumption. Air pollution from motor vehicles is one example. The Air pollution#Health effects, cost of air pollution to society is not paid by either the producers or users of motorized transport. Water pollution from mills and factories are another example. All (water) consumers are made worse off by pollution but are not compensated by the market for this damage. The concept of externality was first developed by Alfred Marshall in the 1890s and achieved broader attention in the works of economist Arthur Cecil Pigou, Arthur Pigou in the 1920s. The prototypical example of a negative externality is environmental pollution. Pigou argued that a tax, equal to the m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rivalry (economics)
In economics, a good is said to be rivalrous or a rival if its consumption by one consumer prevents simultaneous consumption by other consumers, or if consumption by one party reduces the ability of another party to consume it. A good is considered non-rivalrous or non-rival if, for any level of production, the cost of providing it to a marginal (additional) individual is zero. A good is anti-rivalrous and inclusive if each person benefits more when other people consume it. A good can be placed along a continuum from rivalrous through non-rivalrous to anti-rivalrous. The distinction between rivalrous and non-rivalrous is sometimes referred to as jointness of supply or subtractable or non-subtractable. Economist Paul Samuelson made the distinction between private and public goods in 1954 by introducing the concept of nonrival consumption. Economist Richard Musgrave followed on and added rivalry and excludability as criteria for defining consumption goods in 1959 and 1969. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Failure
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value.Paul Krugman and Robin Wells Krugman, Robin Wells (2006). ''Economics'', New York, Worth Publishers. The first known use of the term by economists was in 1958,Francis M. Bator (1958). "The Anatomy of Market Failure," ''Quarterly Journal of Economics'', 72(3) pp351–379(press +). but the concept has been traced back to the Victorian writers John Stuart Mill and Henry Sidgwick.Steven G. Medema (2007). "The Hesitant Hand: Mill, Sidgwick, and the Evolution of the Theory of Market Failure," ''History of Political Economy'', 39(3)pp. 331��358. 200Online Working Paper. Market failures are often associated with public goods, time-inconsistent preferences, Information asymmetry, information asymmetries, Market structure, failures of competition, principal–agent problems, externalities,Jean-Jacques L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pollution De L'air
Pollution is the introduction of contaminants into the natural environment that cause harm. Pollution can take the form of any substance (solid, liquid, or gas) or energy (such as radioactivity, heat, sound, or light). Pollutants, the components of pollution, can be either foreign substances/energies or naturally occurring contaminants. Although environmental pollution can be caused by natural events, the word pollution generally implies that the contaminants have a human source, such as manufacturing, extractive industries, poor waste management, transportation or agriculture. Pollution is often classed as point source (coming from a highly concentrated specific site, such as a factory, mine, construction site), or nonpoint source pollution (coming from a widespread distributed sources, such as microplastics or agricultural runoff). Many sources of pollution were unregulated parts of industrialization during the 19th and 20th centuries until the emergence of environmental ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ronald Coase
Ronald Harry Coase (; 29 December 1910 – 2 September 2013) was a British economist and author. Coase was educated at the London School of Economics, where he was a member of the faculty until 1951. He was the Clifton R. Musser Professor of Economics at the University of Chicago Law School, where he arrived in 1964 and remained for the rest of his life. He received the Nobel Memorial Prize in Economic Sciences in 1991. Coase believed economists should study real-world wealth creation, in the manner of Adam Smith, stating, "It is suicidal for the field to slide into a hard science of choice, ignoring the influences of society, history, culture, and politics on the working of the economy." He believed economic study should reduce emphasis on Price Theory or theoretical markets and instead focus on real markets. He established the case for the corporation as a means to pay the costs of operating a marketplace. Coase is best known for two articles: "The Nature of the Firm" (1937), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth E
Kenneth is a given name of Gaelic origin. The name is an Anglicised form of two entirely different Gaelic personal names: ''Cainnech'' and '' Cináed''. The modern Gaelic form of ''Cainnech'' is ''Coinneach''; the name was derived from a byname meaning "handsome", "comely". Etymology The second part of the name ''Cinaed'' is derived either from the Celtic ''*aidhu'', meaning "fire", or else Brittonic ''jʉ:ð'' meaning "lord". People Fictional characters * Kenneth Widmerpool, character in Anthony Powell's novel sequence ''A Dance to the Music of Time'' * Kenneth Parcell from 30 Rock Places In the United States: * Kenneth, Minnesota * Kenneth City, Florida In Scotland: * Inch Kenneth Inch Kenneth () is a small grassy island off the west coast of the Isle of Mull, in Scotland. It is at the entrance of Loch na Keal, to the south of Ulva. It is part of the Loch na Keal National Scenic Area, one of 40 in Scotland. It is within ..., an island off the west coast of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resources For The Future
Resources for the Future (RFF) is an American nonprofit organization, founded in 1952, that conducts independent research into environmental, energy, and natural resource issues, primarily via economics and other social sciences. Headquartered in Washington, D.C., RFF performs research around the world. Overview and history In 1951, U.S. President Harry S. Truman asked William S. Paley, the chairman of the board of Columbia Broadcasting System (CBS), to form a Materials Policy Commission to study the country's natural resource needs. The report, ''Resources for Freedom: Foundations for Growth and Security'', recommended the formation of an independent organization to analyze the supply of the country's natural resources. Founded in 1952 with initial grants from the Ford Foundation, RFF focused in its early years on natural resource scarcity and import dependence, helping to pioneer the field of resource economics. It became the first "think tank" devoted exclusively to natural ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Principles Of Political Economy
''Principles of Political Economy'' (1848) by John Stuart Mill was one of the most important economics or political economy textbooks of the mid-nineteenth century. It was revised until its seventh edition in 1871, shortly before Mill's death in 1873, and republished in numerous other editions. Beside discussing descriptive issues such as which nations tended to benefit more in a system of trade based on comparative advantage (Mill's answer: those with more elastic demands for other countries' goods), the work also discussed normative issues such as ideal systems of political economy, critiquing proposed systems such as communism and socialism. Along with '' A System of Logic'', ''Principles of Political Economy'' established Mill's reputation as a leading public intellectual. Mill's sympathetic attitude in this work and in other essays toward contemporary socialism, particularly Fourierism, earned him esteem from some of the working class as one of their intellectual champions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Stuart Mill
John Stuart Mill (20 May 1806 – 7 May 1873) was an English philosopher, political economist, politician and civil servant. One of the most influential thinkers in the history of liberalism and social liberalism, he contributed widely to social theory, political theory, and political economy. Dubbed "the most influential English-speaking philosopher of the nineteenth century" by the ''Stanford Encyclopedia of Philosophy'', he conceived of liberty as justifying the freedom of the individual in opposition to unlimited state and social control. He advocated political and social reforms such as proportional representation, the emancipation of women, and the development of labour organisations and farm cooperatives. The ''Columbia Encyclopedia'' describes Mill as occasionally coming "close to socialism, a theory repugnant to his predecessors". He was a proponent of utilitarianism, an ethical theory developed by his predecessor Jeremy Bentham. He contributed to the investigation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
