Munich Personal RePEc Archive

The economic value of the Earth's resources

Chichilnisky, Graciela (1995): The economic value of the Earth's resources. Published in: Trends in Ecology and Evolution (TREE) , Vol. 11, No. No. 3 (March 1996): pp. 135-140.

[img]
Preview
PDF
MPRA_paper_8491.pdf

Download (2MB) | Preview

Abstract

Economics 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.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.