Economics vs. ecology - contemporary trends, risks and challenges

Abstract

It is widely known that the Greek word ‘oikos’ is the common root for the ‘eco’ in both terms “economics” and “ecology”. It is sometimes stated that ecology is the science of nature’s housekeeping, while economics is the science of human housekeeping. That is why the contemporary tension between ecology and economics is looking strange. We have at least two possibly conflicting objectives in our decision making and those are minimizing environmental impact and maximizing economic profits. While during the last century economic and ecological goals were mostly conflicting with each other, nowadays those goals are getting more and more aligned. The target of reaching sustainable development assumes that meeting the needs of the future depends on how well we balance economic and environmental objectives – or needs – when making decisions today. When you are citing the document, use the following link http://essuir.sumdu.edu.ua/handle/123456789/10161