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International Journal of Environmental Sustainability and Protection
Frequency: Quarterly Published by lIKll

Open Access
 IJESP 2021/12
Vol.1, Iss.1 : 3-15

Sustainability and Economics: The Environmental Valuation Controversy

Nima Norouzi1*
1Department of Energy Engineering and Physics, Amirkabir University of Technology (Tehran polytechnic), 424 Hafez Avenue, PO Box 15875-4413, Tehran, Iran

Received:N/A; Revised:N/A; Accepted:N/A; Published:December 30, 2021
On sustainable development, a fundamental controversy is a value assigned to environmental goods and services. Economics approaches it from two perspectives: the traditional neoclassical approach (environmental economics) and another, more comprehensive one, where different sciences converge (ecological economics). This work offers a critical review of conventional economic theory associated with sustainable development, also highlights the need to assign values to environmental services for better decision-making, in which individual and social preferences are considered, thereby it would advance towards the central goals of sustainable development: economic efficiency, social justice, and ecological sustainability. This paper’s main contribution and novelty are to frame a discussion about the controversy between the various disciplines involved in the commensurability of nature. This link is a necessity of today’s world and must be considered an important issue to enhance sustainable development.

Keywords:  Sustainable Development, Ecological Economics, Environmental Economics, Green Economics, Sustainable Economics

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Citation:Norouzi, N.(2021). Sustainability and Economics: The Environmental Valuation Controversy. International Journal of Environmental Sustainability and Protection, 1(1), 3-15.

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Copyright: © 2021  The Author(s). Published with license by IIKII, Singapore. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.