Green economics have so far been considered external to mainstream economics and there is a lot of discussion about whether they have any major points in similar. Green economics states that in the world we live in, needs looking after and if our daily transactions or dealings with each other affect the natural atmosphere, then it should be taken into account in decision making. As the natural resources are scarce, we can not use them wastefully, thus, our use of them should be noted. Besides, as our actions affect other human beings, such as a business decision affecting its consumers, suppliers, workers, shareholders, bank, the society and community etc, our actions can also affect non-human things such as plants, animals, the environment or the ecology and the different natural systems that exists around us.
Green economics broadly encompasses the natural environment too while talking about social justice and other economic matters and has questioned some of the assumptions made by the classical economics. For this reason, it is often called non-neoclassical economics. ...Show more