An Introductory Note on the Environmental Economics of the Circular Economy

An Introductory Note on the Environmental Economics of the Circular Economy

Mikael Skou Andersen

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Malviya Convent School

An Introductory Note on the Environmental Economics of the Circular Economy

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Abstract

This paper provides an introduction to some of the fundamental principles and approaches in envi-ronmental economics which are of significance to achieving an integrated sustainability science. The concept of a circular economy, introduced by the late David Pearce in 1990, addresses the interlink ages of the four economic functions of the environment. The environment not only provides amenity values, in addition to being a resource base and a sink for eco-nomic activities, it is also a fundamental life-support system. Environmental economists have suggested that, taking these four functions as an analytical starting point, unpriced or underpriced services should be internalised in the economy. In Europe significant ad-vances have been achieved in the pricing of externali-ties by means of truly interdisciplinary analysis which accounts in detail for the environmental consequences. The monetary estimates reached as a result of such interdisciplinary research are gradually being applied to the economic analysis of environmental policy pri-orities. Although such figures provide only a partial and incomplete picture of the environmental costs at stake, they support and inform the analysis of the vir-tues of a circular economy for individual resources as well as for sustainability as a future trajectory.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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How to Cite This Article

Mikael Skou Andersen. 2017. \u201cAn Introductory Note on the Environmental Economics of the Circular Economy\u201d. Global Journal of Human-Social Science - B: Geography, Environmental Science & Disaster Management GJHSS-B Volume 17 (GJHSS Volume 17 Issue B4).

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GJHSS Volume 17 Issue B4

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Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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GJHSS-B Classification FOR Code: 040699

Submission ReceivedDecember 8, 2016
Peer Review Double Blind
Handling Editor
Accepted January 5, 2017
Published January 15, 2017

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v1.2

Issue date

December 29, 2017

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Article Matrices

Total Score: 121

Country: Denmark

Subject: Global Journal of Human-Social Science - B: Geography, Environmental Science & Disaster Management

Authors: Mikael Skou Andersen (PhD/Dr. count: 0)

View Count (all-time): 236

Total Views (Real + Logic): 3331

Total Downloads (simulated): 1619

Publish Date: 2017 12, Fri

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Total Views: 3331

Total Downloads: 1619

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