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Title: Note: Economic Systems and the Environment
Authors: Shamyla Chaudhry
Journal: Lahore Journal of Economics
Publisher: Lahore School of Economics, Lahore
Country: Pakistan
Year: 1998
Volume: 3
Issue: 1
Language: English
DOI: https://doi.org/10.35536/lje.1998.v3.i1.a8
In any economic system, be it a free market or a command economy, the elementary functions of production, distribution and consumption take place within the natural world. The natural world provides the raw materials and the energy inputs for the production process whereas production and consumption leave “residuals” or waste products which go back into nature. The manner in which the residuals are handled will infact tell us how they may lead to pollution or the degradation of the natural environment.
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