Environmental Economics
Environmental Economics When environmental disasters occur, we typically see those that are impacted (via loss of job opportunities, destruction to their surrounding environment and so forth) being compensated. Therefore being given money for the devastation that has been caused to nature. This raises the question as to whether a monetary value should be placed on environmental aspects and goods and who decides this. Examples of some aspects of the environment that are put for debate to put a monetary value on (Source: Ensia) Putting a monetary value on ecosystem damage is complex and layered. In fact it is so complex that there is a section of economics created to deal with this issue, environmental economics. Environmental economists distinguish different values in order to calculate a price for whatever aspect of nature they’re assessing: Use values : the values that arrive from the actual use of a particular environmental good. Direct use values: enjoyment/satisf...
