The editors of this journal initiated a discussion on the relationship between industrial ecology and ecological economics, to which the current article is intended to contribute. It consists of overviews of ecological economics and industrial ecology, followed by an analysis of the links between them. Judging from their theoretical background and historical development, the extent of cross referencing between them, their shared normative characters and the particular focus of industrial ecology on industry and products, the article suggests that not only are they closely related, but also that ecological economics is relatively broader and, thus, encompasses industrial ecology.