Market Insider

Environmental Economics: Theory, Rights, and Policy Nicholas Djoulia April 2026 Abstract This paper provides an overview and analysis of environmental economics, an interdisciplinary field that examines the relationship among markets, policy, and human rights. Building on economist Chris Jeffords's research, it argues that traditional economic models are insufficient to describe societal issues, failing to account for equity constraints, demographic disparities, and humanity's core values. This argument is expanded on throughout the paper through the breakdown of 6 interconnected substructures: the market failure theory and its impact on policy; the Kuznets Curve, along with the Jeffords and Thompson minimum consumption modification; the global record on environmental rights constitutionally and the difference between the legal frameworks and the real-world outcomes; the extent of environmental concern and the impact of pollution; the theoretical economic viewpoint vs. the poli...