Article history: Received 10 November 2007 Received in revised form 14May 2008 Accepted 14 May 2008 Available online 14 June 2008 The paper analyzes the contribution of K. William Kapp, widely considered one of the founders of Ecological Economics. This paper will demonstrate how K. William Kapp developed his theory of social costs into a framework for environmental policy development, i.e. the...