Ecological Economics, Second Edition: Principles and Applications
In its first edition, this book helped to define the emerging field of ecological economics. This new edition surveys the field today. It incorporates all of the latest research findings and grounds economic inquiry in a more robust understanding of human needs and behavior. Humans and ecological systems, it argues, are inextricably bound together in complex and long-misunderstood ways. According to ecological economists, conventional economics does not reflect adequately the value of essential factors like clean air and water, species diversity, and social and generational equity. By excluding biophysical and social systems from their analyses, many conventional economists have overlooked problems of the increasing scale of human impacts and the inequitable distribution of resources. This introductory-level textbook is designed specifically to address this significant flaw in economic thought. The book describes a relatively new “transdiscipline” that incorporates insights from the biological, physical, and social sciences. It provides students with a foundation in traditional neoclassical economic thought, but places that foundation within an interdisciplinary framework that embraces the linkages among economic growth, environmental degradation, and social inequity. In doing so, it presents a revolutionary way of viewing the world. The second edition of Ecological Economics provides a clear, readable, and easy-to-understand overview of a field of study that continues to grow in importance. It remains the only stand-alone textbook that offers a complete explanation of theory and practice in the discipline.
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absolute advantage assets banks basic beneﬁts Chapter consumer consumption countries curve deﬁned deforestation demand depletion difﬁcult discount distribution ecological economics economic growth economists ecosys ecosystem services efﬁcient allocation entropy environmental equal equilibrium example exchange externalities extraction factor ﬁnancial ﬁnite ﬁrms ﬁrst ﬁsh ﬁsheries ﬁxed ﬂow forest fossil fuels function fund fund-service future global goal harvest human impacts important income increase individual inﬂation interest rates investment labor land less limit macroeconomics marginal costs marginal utility minimum viable population monetary money supply natural capital neoclassical neoclassical economics nomic nonmarket nonrival Online opportunity cost optimal Pareto physical pollution population problem production proﬁts property rights quotas reduce reﬂect rival satisﬁers scale sector seigniorage solar energy species speciﬁc stock-ﬂow substitutes sufﬁcient sustainable yield throughput tion trade unit waste absorption capacity wealth welfare