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Ecological Economics

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  • David I. Stern

    ()
    (Crawford School of Public Policy, The Australian National University)

Abstract

Ecological economics is a relatively new interdisciplinary field concerned with the relationship between economic systems and the biological and physical world. This article covers the following topics: A discussion of views on whether ecological economics is just a field or approach within economics or a new ÒtransdisciplinaryÓ field in its own right; Origin of the name of the field; Core common principles of ecological economics; Comparison with environmental economics; Applications; History and institutions of ecological economics. The core principles are that the economy is embedded and dependent upon the ecosphere and that, therefore, models of the economy have to comply with biophysical principles. Ecological economists believe that there are limits to our ability to substitute human-made inputs and knowledge for natural resources and the environment in both production and consumption. They also argue that economic policy must consider jointly the objectives of economic efficiency, equity, and sustainability.

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File URL: https://crawford.anu.edu.au/pdf/crwf_ssrn/crwfrp_1203.pdf
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Bibliographic Info

Paper provided by Crawford School of Public Policy, The Australian National University in its series Crawford School Research Papers with number 1203.

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Date of creation: May 2012
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Handle: RePEc:een:crwfrp:1203

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Postal: Crawford Building, Lennox Crossing, Building #132, Canberra ACT 0200
Phone: +61 2 6125 4705
Fax: +61 2 6125 5448
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Web page: https://crawford.anu.edu.au/research/crwf_ssrn/
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References

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  1. Engel, Stefanie & Pagiola, Stefano & Wunder, Sven, 2008. "Designing payments for environmental services in theory and practice: An overview of the issues," Ecological Economics, Elsevier, vol. 65(4), pages 663-674, May.
  2. Castro e Silva, Manuela & Teixeira, Aurora A.C., 2011. "A bibliometric account of the evolution of EE in the last two decades: Is ecological economics (becoming) a post-normal science?," Ecological Economics, Elsevier, vol. 70(5), pages 849-862, March.
  3. Pagiola, Stefano, 2006. "Payments for Environmental Services in Costa Rica," MPRA Paper 2010, University Library of Munich, Germany.
  4. Chunbo Ma & David I. Stern, 2004. "Environmental and Ecological Economics: A Citation Analysis," Rensselaer Working Papers in Economics 0418, Rensselaer Polytechnic Institute, Department of Economics.
  5. Ropke, Inge, 2004. "The early history of modern ecological economics," Ecological Economics, Elsevier, vol. 50(3-4), pages 293-314, October.
  6. John Pezzey, 1992. "Sustainability: an interdisciplinary guide," Environmental Values, White Horse Press, vol. 1(4), pages 321-362, November.
  7. Clive L. Spash, 1999. "The Development of Environmental Thinking in Economics," Environmental Values, White Horse Press, vol. 8(4), pages 413-435, November.
  8. Ropke, Inge, 2005. "Trends in the development of ecological economics from the late 1980s to the early 2000s," Ecological Economics, Elsevier, vol. 55(2), pages 262-290, November.
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