Environment as the Stage for Economic Actors

AbstractThe relative importance of economics and environment in debate may soon be reversed due to the influence of three factors. Firstly, in the global economy it is hard to hide the unwanted products of economic processes. Secondly, huge advances in science will reduce the imperfect knowledge of markets, making some monitoring and analyzing tools show the design of sensible and equitable livelihood in communities, which is more important than the motivation of maximising profits for some individuals or firms. Thirdly, China, as the last major player on the planet to take on economic growth, comes from traditions fundamentally different from those economies that have experienced the Industrial Revolution previously. Its challenges with sustainability and environmental conservation predate Western economics by millennia, and it is implementing policies domestically and starting to work on the world stage that acknowledges that the surroundings are the host for any economic and socio-political system.