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Endangered EconomiesHow the Neglect of Nature Threatens Our Prosperity$
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Geoffrey Heal

Print publication date: 2016

Print ISBN-13: 9780231180849

Published to Columbia Scholarship Online: January 2019

DOI: 10.7312/columbia/9780231180849.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 13 June 2021

Environment and Economy—No Conflict

Environment and Economy—No Conflict

Chapter:
(p.1) 1 Environment and Economy—No Conflict
Source:
Endangered Economies
Author(s):

Geoffrey Heal

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231180849.003.0001

The natural world matters greatly to economic performance: the economy and the natural world are strongly interdependent, and improving the natural environment improves economic performance directly. But nonetheless economic activity is seriously damaging the environment. There are four reasons for this, all connected with clearly identifiable shortcomings of our economic system – failure to charge for external costs, failure to manage common property, failure to recognize and value natural capital, and failure to properly evaluate economic performance. Subsequent chapters develop these points.

Keywords:   natural world, environment, economy, external cost, common property, natural capital, fisheries, sustainability

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