Economics and the Environment

 A successful economy depends on having a balanced relationship with the environment that provides mutually beneficial outcomes. The environment provides ecosystem services essential to the economy, produces most of the resources necessary for manufacturing, and serves as the basis for industry. Unfortunately, our economy has become so industrialized that it has progressed past sustainable use of resources. While industrialization has allowed us to support population growth and economic development, industrialized agriculture, forestry, fishing, and mining have created resource deficits that have stressed the economy by limiting production.

            Once we have overexploited the environment and depleted our resources, the economy will no longer be able to function. At this point in time, there is a trade-off between economic growth and resource use because as industries grow, resource deposits become increasingly depleted. In order to manage resource deposits and maintain a functioning economy, the economy must find a way to balance economic development with sustainable resource use.

The New Yorker - Trade-off Provided is an article by The New Yorker that elaborates on the trade-off between the environment and the economy.