Natural resource economics

See also: Land (economics)
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EnvironmentEquitableSustainableBearable (Social ecology)Viable (Environmental economics)EconomicSocial
The three pillars of sustainability.
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Three circles enclosed within one another showing how both economy and society are subsets that exist wholly within our planetary ecological system.
Three circles enclosed within one another showing how both economy and society are subsets of our planetary ecological system. This view is useful for correcting the misconception, sometimes drawn from the previous "three pillars" diagram, that portions of social and economic systems can exist independently from the environment.[1][unreliable source?]

Natural resource economics deals with the supply, demand, and allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in the economy in order to develop more sustainable methods of managing those resources to ensure their availability for future generations. Resource economists study interactions between economic and natural systems, with the goal of developing a sustainable and efficient economy.[2]

  1. ^ Willard, B. (2011). "3 Sustainability Models" citing The Power of Sustainable Thinking by Bob Doppelt, and The Necessary Revolution by Peter Senge et al. Retrieved on: 2011-05-03.
  2. ^ http://www.uri.edu/cels/enre/ University of Rhode Island Department of Environmental and Natural Resource Economics Retrieved October-22-09