Natural resource economics deals with the supply, demand, and allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in the economy in order to develop more sustainable methods of managing those resources to ensure their availability to future generations. Resource economists study interactions between economic and natural systems, with the goal of developing a sustainable and efficient economy.
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Famous quotes containing the words natural, resource and/or economics:
““You, that have not lived in thought but deed,
Can have the purity of a natural force,
But I, whose virtues are the definitions
Of the analytic mind, can neither close
The eye of the mind nor keep my tongue from speech.””
—William Butler Yeats (1865–1939)
“The waste of plenty is the resource of scarcity.”
—Thomas Love Peacock (1785–1866)
“I am not prepared to accept the economics of a housewife.”
—Jacques Chirac (b. 1932)