Environment and economics are closely linked from "summary" of Economics of the Environment by Robert N. Stavins
The relationship between the environment and the economy is a fundamental aspect of the field of environmental economics. This connection is crucial because decisions made in the economic sphere have direct and indirect impacts on the environment. Similarly, environmental conditions can have significant effects on economic outcomes. The two are intricately intertwined, influencing each other in complex ways. One key aspect of this relationship is the concept of externalities. Externalities occur when the actions of one economic agent affect the well-being of others without being reflected in market prices. This can lead to market failures, as the true costs or benefits of certain actions are not fully accounted for. Environmental externalities are particularly significant, as they can result in pollution, ...
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