An Economical Approach to the Problem of the Internalization of the Externalities and Monetary Evaluation Methods
Year: 2005
Type: article
Abstract: As the "environmental goods" have previously been considered to be public property, they have not been priced.The evaluation of the natural resources appears as an "economical problem" before us naturally, because they are both not priced and extremely destroyed and some of the natural resources have the characteristic of regeneration.In other words, it has already started a new discussion that renewable natural resources have been converted from being "free goods" into "economic goods"; i.e., the natural resources have become "scarce goods" that have an important part in the theory of economics and how is it that all scarce goods have prices, "also the environment" should have a price.The practice that the social cost and benefit of the natural resources as the factors of production are started to be reflected to the prices has disclosed the fact that the environmental goods such as the air, sea and soil that are considered to be free goods and are not the subject of private ownership should have prices.The condition that there is a cost of the damage caused in the environment and it reflects to the price of the goods produced of it or that the prices include the costs of environmental pollution may be defined as the "internalization of the externalities" as an opinion that is becoming popular.
Author: Zekai Özdemir
Language: English
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W3028781663