Environmental and Resource Economics: Its Role in Planning Sustainable Development

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, conservation and development are discussed. On the whole economic •definitions of sustainable development tend to be more restricted, precise and operational than non-economic ones. However, there is room for disagreement about the values which underlie these definitions.