The major problems in the world may be classified into three groups. These are peace, north — south development, and the preservation of the ecosystem. Obviously all three areas are interrelated, as is shown, for example, by the role of oil and OPEC, and the nature of rainforest destruction. Of these three problem areas we feel the one with the greatest potential for long — term harm is the destruction of the ecosystem by economic activity. Therefore, in this book we shall be concerned with the long — run interactions between the economy and the natural environment.
KeywordsNatural World Capital Good Steam Engine Iron Smelting Austrian Approach
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