By Michael Common, Sigrid Stagl
Assuming no previous wisdom of economics, this textbook is meant for interdisciplinary environmental technological know-how and administration classes. The authors, who've written largely at the economics of sustainability, mix insights from mainstream economics in addition to ecological sciences. half I explores the interdependence of the fashionable economic climate and its setting, whereas half II focuses almost always at the economic climate and on economics. half III experiences how nationwide governments set coverage pursuits and the tools used to pursue these goals. half IV examines foreign alternate and associations, and significant international threats to sustainability - weather swap and biodiversity loss.
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Additional info for Ecological Economics: An Introduction (2005)
The term ‘welfare’ is used for the totality of utility across individuals, and according to utilitarianism morally correct actions are those that increase welfare. Utilitarianism is the ethical basis for economics. There are three main questions for utilitarianism. First, whose utility counts? Second, how is utility assessed? Third, how is utility across individuals added up to get welfare? There are different varieties of utilitarianism according to the answers to these three questions. We will look at differences, and commonalities, between neoclassical and ecological economics in terms of these questions later in this chapter.
If ever A did not occur, Jack would have to agree that the statement ‘event A always follows action B’ is incorrect. The situation is different with normative statements -- they cannot be classiﬁed as true or false on a factual basis. If Jack and Jill disagree about whether A is a bad outcome, there is no experiment that can resolve that difference. One deﬁnition of science is that it is the business of sorting positive statements into the categories of true and false. Some people would argue that any ﬁeld of study that involves making recommendations is not a science.
That idea is to be developed in the following chapters of Part I. This chapter looks at the functioning of the natural environment itself, largely ignoring the role of humanity. It is a simple, and brief, overview of the material from environmental science that is necessary for an understanding of ecological economics. Readers who are familiar with environmental science will ﬁnd that they can get through the chapter quickly, though they probably should not skip it completely. For other readers, the Further Reading section at the end of the chapter offers some guidance on how to go further into the environmental science topics introduced here.