Ecological economics places the relationship between economic activity and the environment in a context that's radically different from mainstream economic thinking. Instead of trying to use market mechanisms to reduce environmental harms and promote sustainability, ecological economics calls for a reevaluation of economic growth, asking if it is, in fact, doing more harm than good. The multidisciplinary field also focuses on issues of environmental justice and inequality in income, resource distribution and negative effects of environmental damage.

Seeing the economy as a function of the environment, and not the other way around, is a strange way of thinking for most economists and policymakers. Ecological economics has developed a voice in academia through extensive research, some notable publications, institutes and an
international association of ecological economists. Some ideas associated with ecological economics, like environmental justice, have made their way to Washington. However, ecological economics remains outside the mainstream of policymaking, and has generated more frameworks and theories than specific policy recommendations.

Nevertheless, overlapping concern about the world economy and the world's ecosystems points to a larger role for ecological economics in the future. While it may be some time before lawmakers embrace the idea of curbing economic growth in order to promote long-run sustainability, the field has raised critical questions about the costs of a free market, irrevocable human damage to biodiversity and the impact of today's economic decisions on future generations. The Rio+20 summit being held in June 2012 will serve as a forum for discussion regarding the role of ecological economics in measuring true economic success.