Abstract

HARO-MARTINEZ, Alma Angelina  and  TADDEI-BRINGAS, Isabel Cristina. Sustainability and economics: controversy on the environmental valuation. Econ. soc. territ [online]. 2014, vol.14, n.46, pp.743-767. ISSN 2448-6183.

In the topic of sustainable development, the assignment of value to ecosystem services is controversial. The economic science approaches it from two different perspectives: the traditional framework of neoclassical economy (environmental economics), and from an integral viewpoint where different sciences converge: ecological economics. This paper presents a critical review of the conventional economic theory related to sustainable development and highlights the need to assign values to ecosystem services for a comprehensive decision-making process which take into account individual and social preferences, and this way, advance to reach the central goals of sustainable development: economic efficiency, social justice and ecological sustainability.

Keywords : sustainable development; ecological economics; environmental economics; valuation.

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