ABSTRACT
Over the past five decades, we have become increasingly aware of environmental problems at the local, national, and global levels. During this period, many natural resource and environmental issues have grown in scope and urgency. Environmental economists apply mainstream economic principles to environmental and natural resource issues. Ecological economists place greater emphasis on the outer circle, with its biophysical laws and limitations, but are also aware of the importance of the way resources and the environment are taken into account in economic analysis. The final core concept in ecological economics is the promotion of a pluralistic approach to studying the relationship between the economy and the environment. Ecological economics often takes a macro perspective, emphasizing the relationship between economic production and the major natural cycles of the planet. In many cases, significant conflicts arise between the operations of the economic system and these natural systems, creating regional and global problems such as global climate change from excess carbon dioxide accumulation.
