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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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Environment and Economy—No Conflict

Environment and Economy—No Conflict

(p.1) 1 Environment and Economy—No Conflict
Endangered Economies

Geoffrey Heal

Columbia University Press

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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