Background is provided on the nature of environmental and resource economics and its origins. The main current view of environmental/resource economists about the concept of sustainable development is outlined and the implications of this view for decision-making about optimal resource-use,...

Several different concepts of sustainable development exist in the literature (Tisdell, 1993, Ch. 9). However, it seems that no matter which of these concepts is adopted conservation of biological diversity is necessary for its achievement, even though there is room for argument •about the...

Human resources are central to economic development and can be increased in value and productivity by investment in human beings e.g. in their education and health. But for a considerable period in the past economists stressed the importance of the accumulation of man-made physical capital for...

Ecological, evolutionary and economic issues involved in introducing genetically modified organisms (GMOs), mainly in agriculture, are discussed. The ecological and evolutionary impacts identified hamper (economic) valuation of GMOs and their biosafety regulation and creates difficulties for...

The most widely accepted view of sustainable economic development is that it is economic development ensuring that each succeeding generation is no less well off than its predecessor. This mainstream approach, however, has several limitations. It can, for example, result in a development path...