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Value Theory in Ecological Economics: The Contribution of a Political Economy of Wealth

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  • Ali Douai

Abstract

This paper demonstrates how a Political Economy of Wealth - an analytical framework inspired from Ricardo's and Marx's theories of value - strengthens the analytical force of Socio-Ecological Economics in the context of the controversy over the value of nature. The Political Economy of Wealth helps (1) to overcome some theoretical limitations encountered in Socio-Ecological Economics, (2) to develop a critical perspective on neoclassical theory of environmental values, as well as a new justification of value incommensurability, and (3) to move toward a new research agenda that aims to study interactions between the economy and the environment from a socio-historical perspective.

Suggested Citation

  • Ali Douai, 2009. "Value Theory in Ecological Economics: The Contribution of a Political Economy of Wealth," Environmental Values, White Horse Press, vol. 18(3), pages 257-284, August.
  • Handle: RePEc:env:journl:ev18:ev1811
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    References listed on IDEAS

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    1. Erik Ansink & Lars Hein & Knut Per Hasund, 2008. "To Value Functions or Services? An Analysis of Ecosystem Valuation Approaches," Environmental Values, White Horse Press, vol. 17(4), pages 489-503, November.
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    5. David Throsby, 2003. "Determining the Value of Cultural Goods: How Much (or How Little) Does Contingent Valuation Tell Us?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(3), pages 275-285, November.
    6. Henrik Svedsäter, 2003. "Economic Valuation of the Environment: How Citizens Make Sense of Contingent Valuation Questions," Land Economics, University of Wisconsin Press, vol. 79(1), pages 122-135.
    7. Turner, R. Kerry & Paavola, Jouni & Cooper, Philip & Farber, Stephen & Jessamy, Valma & Georgiou, Stavros, 2003. "Valuing nature: lessons learned and future research directions," Ecological Economics, Elsevier, vol. 46(3), pages 493-510, October.
    8. Paavola, Jouni, 2007. "Institutions and environmental governance: A reconceptualization," Ecological Economics, Elsevier, vol. 63(1), pages 93-103, June.
    9. Nelson, Anitra, 2001. "The poverty of money:: Marxian insights for ecological economists," Ecological Economics, Elsevier, vol. 36(3), pages 499-511, March.
    10. Becker, Joachim & Raza, Werner G., 2000. "Theory of regulation and political ecology. An inevitable separation?," SRE-Discussion Papers 1312, WU Vienna University of Economics and Business.
    11. 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.
    12. Vatn, Arild, 2005. "Rationality, institutions and environmental policy," Ecological Economics, Elsevier, vol. 55(2), pages 203-217, November.
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    14. Brennan, Andrew John, 2008. "Theoretical foundations of sustainable economic welfare indicators -- ISEW and political economy of the disembedded system," Ecological Economics, Elsevier, vol. 67(1), pages 1-19, August.
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    Cited by:

    1. Lo, Alex Y. & Spash, Clive L., 2011. "Articulation of Plural Values in Deliberative Monetary Valuation: Beyond Preference Economisation and Moralisation," MPRA Paper 30002, University Library of Munich, Germany.
    2. Ali DOUAI (GREThA UMR CNRS 5113) & Matthieu MONTALBAN (GREThA UMR CNRS 5113), 2009. "Institutions and the environment: the case for a historical political economy," Cahiers du GREThA 2009-12, Groupe de Recherche en Economie Théorique et Appliquée.
    3. Yoann Verger, 2015. "Sraffa and ecological economics: review of the literature," Working Papers hal-01182894, HAL.
    4. Dianne McGrath, 2011. "Accounting for the Environment: Towards a Theoretical Perspective for Environmental Accounting and Reporting," Social and Environmental Accountability Journal, Taylor & Francis Journals, vol. 31(2), pages 169-170, September.
    5. Del Corso, Jean-Pierre & Kephaliacos, Charilaos & Plumecocq, Gaël, 2015. "Legitimizing farmers' new knowledge, learning and practices through communicative action: Application of an agro-environmental policy," Ecological Economics, Elsevier, vol. 117(C), pages 86-96.
    6. Kallis, Giorgos & Gómez-Baggethun, Erik & Zografos, Christos, 2013. "To value or not to value? That is not the question," Ecological Economics, Elsevier, vol. 94(C), pages 97-105.
    7. Lo, Alex, 2014. "The Problem of Methodological Pluralism in Ecological Economics," MPRA Paper 49543, University Library of Munich, Germany.
    8. Antonio A. R. Ioris, 2012. "The Positioned Construction of Water Values: Pluralism, Positionality and Praxis," Environmental Values, White Horse Press, vol. 21(2), pages 143-162, May.

    More about this item

    Keywords

    Economic value; Marx; money; commodification;

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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