Growth and the environment. Environental Economics and Policy Studies

Growth and the environment. Environmental Economics and Policy Studies 38(3): 273-275 DOI 10.1007/s10018-016-0151-8 (SCOPUS, EconLit, ISI Listed). In common with Shunsuke Managi (2016).

Nowadays, the interrelationship between economy and environment becomes more prominent. Due to the fact that wants and desires are unlimited, and natural resources are mostly limited, we face the problem of scarcity. Economics studies the appropriate allocations of scarce resources, while Environmental and Natural Resource Economics refers to the interactions between humans and environment. To sustain a healthy and functioning environment over a long time period, sustainable economic development is required to satisfy the current demand and needs and at the same time to respect demand and needs of the future generations. This in turn requires that the satisfaction of human needs is achieved without the extinction of natural resources with no large increases of pollution and no irreversible environmental damage. The concept of sustainable development attempts to combine economic and environmental goals. Sustainable development may be defined as a continuous improvement in the socio-economic standards, fulfilled by increasing its stocks of physical and human capital, as well as improving the standards of technology together with the health of the environment.