Abstract

The political economy of the environment aims to deepen our understanding of the interplay among the economy, the environment, and human well-being. In contrast to neoclassical environmental economics, it pays attention not only to the net magnitude of costs and benefits but also to their distribution across individuals, groups, and classes. In the realm of positive analysis – descriptions of how the world works – this means exploring how the distribution of wealth and power affects environmental outcomes. In the realm of normative analysis – prescriptions for how the world should work – political economists advance a range of criteria including not only cost-effectiveness but also safety, sustainability, and environmental justice.