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Ecological economics

Ecological economics is a branch of economic theory, also known as human development theory or natural welfare economics, that assumes an inherent link between the health of ecosystems and that of human beings.

Its primary argument is that economics is itself a strict subfield of ecology. This is a more radical restatement of the views of green economists or the more conventional environmental economics which do not so directly challenge the classical ideas of growth or optimality.

It rejects the view of energy economics that growth in the energy supply is related directly to well being, focusing instead on biodiversity and creativity - or natural capital and individual capital, in the terminology sometimes adopted to describe these economically. In practice, ecological economics focuses primarily on the key issues of uneconomic growth and measuring well-being.

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