IDEAS home Printed from https://ideas.repec.org/h/spr/sptchp/978-3-642-31193-2_3.html
   My bibliography  Save this book chapter

The Economic Approach

In: Economics for Environmental Studies

Author

Listed:
  • Alfred Endres

    (University of Hagen)

  • Volker Radke

    (State University Ravensburg)

Abstract

The economic principle is presented as the strategy best suited to deal with the problem of scarcity. Acting in accordance with this principle yields efficient results, such that there is no waste of resources. Consumers and firms are assumed to be agents who act economically. The structure of interaction between consumers and firms is outlined as a circular flow. A positive, i.e., merely observing and describing, analysis of this interactive structure is distinguished from a normative one, which evaluates the outcomes of interaction according to the criteria of efficiency, justice, and stability. From any violation of these criteria, a justification of governmental action may be deduced. As two fields of governmental action, the choice of economic system and interventions in the economic process are discussed.

Suggested Citation

  • Alfred Endres & Volker Radke, 2012. "The Economic Approach," Springer Texts in Business and Economics, in: Economics for Environmental Studies, edition 127, chapter 3, pages 17-29, Springer.
    • Handle: RePEc:spr:sptchp:978-3-642-31193-2_3
    DOI: 10.1007/978-3-642-31193-2_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sptchp:978-3-642-31193-2_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.