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The origins of environmental economics date back to the 1960s, when industrialization was experiencing a boom, particularly in the western world, and pollution from industrial activity became an increasing concern. Environmental activism also started to increase due to the perceived negative consequences of environmental degradation. The world became aware of rapid economic growth and its consequences to the environment. David Richardo and Thomas Malthus have expressed their environmental economic impact in terms of the impact on the supply of good quality land and therefore diminishing returns in farm production. Karl Max saw the political state as a part of nature. According to Marxian economics capitalist system is not sustainable system because of environmental destruction. During the 1960s pollution problems were intensified and became more widespread. As the movement developed over time, other intricate details on the relationship between the environment and the economy became apparent. The study brought about powerful environmental arguments and propositions, which gave rise to contemporary environmental policies and regulations around the world. It led to the establishment of new environmental bodies – chief among them, the United Nations Environment Programme (UNEP) in 1972