Question

Discuss deeply most important ways that can contribute to balance between economic development and ecological system or environmental

Answer 1

Answer:

The Critique from Ecological Economics

Ecological economics recognizes the importance of efficient allocation of resources but seeks a much deeper understanding of the relationship between economic development and resource exploitation. It situates the fundamental problem of environment-economy not in market failures, but in humans’ inadequate understanding of their role, impacts, and responsibilities within the larger ecological system. Consequently, the goals of ecological economics are more far reaching than those of environmental economics. While, as with the latter, valuation of resources is still an important goal, ecological economics is also interested in issues of sustainability; ecological–economic system accounting; ecological