The economic value of the Earth's resources
AbstractEconomics is the driving force of today's widespread environmental destruction. Markets undervalue the earth's resources and compound their overuse. Since World War II the world has used resources voraciously. The situation can be described as the industrial countries overconsuming resources which are overextracted and exported by developing countries and traded at prices that are lower than the social costs. Resource-intensive patterns of growth and trade are inefficient for the world economy, and lead to tragic maldistribution of the Earth's riches. They should be replaced by knowledge-intensive patterns of growth. Information technology and the environmental agenda are the two most important trends in the world economy. Together they can lead to growth that is intrinsically compatible with the environment.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 8491.
Date of creation: 1995
Date of revision:
Publication status: Published in Trends in Ecology and Evolution (TREE) No. 3.11(1996): pp. 135-140
environmental destruction; non-renewable resources; international trade; world economy;
Find related papers by JEL classification:
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
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