The paper shows the current state of environmental concerns in economic theory. Different economic schools have incorporated the environmental analysis into their theoretical framework. They use different presumptions, focus on different environmental aspects and come to diverse conclusions and...

This paper reviews important approaches to discounting in economic modelling. It summarizes historical approaches and discusses why exponential discounting has been adopted as a widely accepted benchmark. The article then presents hyperbolic discounting as an alternative, while stresses...

Neoclassical environmental economics, ecological economics and free market approaches to environmental protection are currently three main schools of thoughts that are systematically focused on interactions between the society and the environment. They all have strong defenders as well as...

The 19th Annual Conference of European Association of Environmental and Resource Economists, EAERE-2012, was held in Prague at the end of June 2012. Leading environmental economists discussed new research outcomes and economic theory extensions related to economics of climate change, efficient...

The commentary defends the central idea of current institutional social research – that institutions are significant variables influencing the human action regarding the resource allocation. This idea was strongly opposed by the scientific board of the Czech economic faculty (institutionally...

The conventional view of the sustainability of social development is based on the works of the Roman Club, particularly the book "The Limits to Growth" by Donella Meadows and her colleagues (1972). In their opinion, the human population and economy are depleting the wealth of the Earth and...