Environmental economics in the context of "Toxicant"

Weak and strong sustainability are terms that have emerged from the field of environmental economics and describe different approaches to sustainability, specifically in relation to natural resource management and economic development. Weak sustainability is applicable when certain natural and human capital assets are assessed as interchangeable, meaning that the use or loss of, for example, a reduction in natural capital can be considered sustainable if the simultaneous change in human capital meets or exceeds the value of the change in natural capital. It assumes that different types of capital can be measured and given value in the same way. Strong sustainability is applicable when a specific capital asset, typically a natural capital asset, is assessed as incommensurable or so valuable that it should be maintained or enhanced independently of changes in other, typically human-made, capitals. It particularly considers that certain natural assets have critical ecological functions that cannot be substituted by human-made alternatives.

For example, according to weak sustainability, replacing a natural forest with a park or agricultural land can be considered sustainable if the recreational or economic value equal the value of the biodiversity lost and further environmental impact caused. According to strong sustainability, cutting down trees in a natural forest and planting new trees elsewhere might not be considered sustainable, when the value of biodiversity loss and wider ecological implications cannot be measured or offset.

Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics began as a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ecosystem. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics. Agricultural economists have made substantial contributions to research in economics, econometrics, development economics, and environmental economics. Agricultural economics influences food policy, agricultural policy, and environmental policy.

Environmental studies (EVS or EVST) is a multidisciplinary academic field which systematically studies human interaction with the environment. Environmental studies connects principles from the physical sciences, commerce/economics, the humanities, and social sciences to address complex contemporary environmental issues. It is a broad field of study that includes the natural environment, the built environment, and the relationship between them. The field encompasses study in basic principles of ecology and environmental science, as well as associated subjects such as ethics, geography, anthropology, public policy (environmental policy), education, political science (environmental politics), urban planning, law, economics, philosophy, sociology and social justice, planning, pollution control, and natural resource management. There are many Environmental Studies degree programs, including a Master's degree and a Bachelor's degree. Environmental Studies degree programs provide a wide range of skills and analytical tools needed to face the environmental issues of our world head on. Students in Environmental Studies gain the intellectual and methodological tools to understand and address the crucial environmental issues of our time and the impact of individuals, society, and the planet. Environmental education's main goal is to instill in all members of society a pro-environmental thinking and attitude. This will help to create environmental ethics and raise people's awareness of the importance of environmental protection and biodiversity.

Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially. By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment. One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that physical (human-made) capital can substitute for natural capital (see the section on weak versus strong sustainability below).

Ecological economics was founded in the 1980s as a modern discipline on the works of and interactions between various European and American academics (see the section on History and development below). The related field of green economics is in general a more politically applied form of the subject.