New Principles of Environmental Economics to Shape Resource Management Strategies
The article discusses the principles of environmental economics, focusing on the concepts of resources, scarcity, market efficiency, and natural resource scarcity indicators. It explores how market signals like resource price, rent, and extraction cost can reflect resource scarcity. The ecological perspective highlights the importance of understanding ecosystems and the laws of matter and energy. The study emphasizes the trade-offs between environmental quality and goods in achieving optimal outcomes.