Economics has its roots formed in the nineteenth century back when the industrial revolution had just began. Economics mostly dealt with the balance of accounts at the end of each year, but it can be said that ecological and economical concepts can be tied together and can work in a sync since.
Economics and ecology both work with some very basic fundamentals, much needed for their stability and functionality. Nature starts with reproduction, growth, death and this goes on and on and perpetuates century after century. Both characteristics and composition might change but we see that there is always some informational content that remains the same irrespective of any such change. It is this very informational content that defines the broader aspect of the relationship between economics and ecology and the structure and organization that follows thereafter.
Ecological economics is a very old term and this very term shows us the clear relationship between the two variables – ecology and economics. Ecological economics teaches us the co-evolution, the interdependence and lastly the strict intercorrelation between the two. People who have interest to study and go deep into the reasons behind the adverse economic growth and its impact on the environment …read more