The principles of an ecosystem-based economic analysis are based on the approaches of ecological economists. Ecological economics is a transdisciplinary field of study that addresses the relationships between ecosystems and economic systems in the broadest sense, attempting to integrate and synthesize many different disciplinary perspectives (Costanza et al 1991). Ecological economics points out the need to protect the integrity of ecological systems (Norton 1991).
The connections between ecosystems and economics is summarized by Costanza (1991):
Ecological systems play a fundamental role in supporting life on earth at all hierarchical scales. They form the life-support system without which economic activity would be impossible. They are essential in global material cycles like the carbon and water cycles. They provide raw materials, food, water, recreational opportunities, and microclimate control for the entire human population. In the long run, a healthy economy can only exist in symbiosis with a healthy ecology.
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