THE NECESSITY OF ENVIRONMENTAL ECONOMICS

In the modern age we find ourselves faced with the need to tie economic decision making to environmental considerations. This fact will ultimately impact nearly all facets of our daily economic transactions. The link between environmental and economic decisions is especially acute in industry, banking, farming and government. Each of these institutions is changing, and must continue to change, in response to newly recognized demands of environmental and economic sustainability. We discuss the changes that are occurring in these key institutions, and tie these changes to a broader notion of environmental and economic responsibility. © 1993 Academic Press Ltd.