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Environmental Economics, Ecological Economics, and the Concept of Sustainable Development

Author

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  • Giuseppe Munda

Abstract

This paper presents a systematic discussion, mainly for non-economists, on economic approaches to the concept of sustainable development. As a first step, the concept of sustainability is extensively discussed. As a second step, the argument that it is not possible to consider sustainability only from an economic or ecological point of view is defended; issues such as economic-ecological integration, inter-generational and intra-generational equity are considered of fundamental importance. Two different economic approaches to environmental issues, i.e. neo-classical environmental economics and ecological economics, are compared. Some key differences such as weak versus strong sustainability, commensurability versus incommensurability and ethical neutrality versus different values acceptance are pointed out.

Suggested Citation

  • Giuseppe Munda, 1997. "Environmental Economics, Ecological Economics, and the Concept of Sustainable Development," Environmental Values, White Horse Press, vol. 6(2), pages 213-233, May.
  • Handle: RePEc:env:journl:ev6:ev611
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    Citations

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    Cited by:

    1. Clive L. Spash, 2012. "Towards the integration of social, economic and ecological knowledge," SRE-Disc sre-disc-2012_04, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business.
    2. Illge, Lydia & Schwarze, Reimund, 2009. "A matter of opinion--How ecological and neoclassical environmental economists and think about sustainability and economics," Ecological Economics, Elsevier, vol. 68(3), pages 594-604, January.
    3. Giuseppe Munda, 2014. "On the Use of Shadow Prices for Sustainable Well-Being Measurement," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 118(2), pages 911-918, September.
    4. Giuseppe Munda, 2003. "Social Multi-Criteria Evaluation (SMCE)," UHE Working papers 2003_04, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.
    5. Clive L. Spash, 2012. "Ecological Economics and Philosophy of Science: Ontology, Epistemology, Methodology and Ideology," SRE-Disc sre-disc-2012_03, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business.
    6. Caterina Cruciani & Silvio Giove & Mehmet Pinar & Matteo Sostero, 2012. "Constructing the FEEM Sustainability Index: A Choquet-Integral Application," Working Papers 2012.50, Fondazione Eni Enrico Mattei.
    7. repec:gam:jsusta:v:10:y:2018:i:8:p:2738-:d:161735 is not listed on IDEAS
    8. Sartorius, Christian, 2006. "Second-order sustainability--conditions for the development of sustainable innovations in a dynamic environment," Ecological Economics, Elsevier, vol. 58(2), pages 268-286, June.
    9. Spash, Clive L. & Villena, Mauricio G., 1999. "Exploring the Approach of Institutional Economics to the Environment," MPRA Paper 17278, University Library of Munich, Germany.
    10. Bajmócy, Zoltán & Málovics, György, 2009. "A fenntarthatóság közgazdaságtani értelmezései
      [Economic interpretations of sustainability]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 464-483.
    11. Tiziano Gomiero, 2016. "Soil Degradation, Land Scarcity and Food Security: Reviewing a Complex Challenge," Sustainability, MDPI, Open Access Journal, vol. 8(3), pages 1-41, March.
    12. repec:gam:jsusta:v:8:y:2016:i:3:p:281:d:66100 is not listed on IDEAS
    13. Olivier Petit & Franck-Dominique Vivien, 2015. "When economists and ecologists meet on Ecological Economics: two science paths around two interdisciplinary concepts," Post-Print halshs-01249774, HAL.
    14. Giuseppe Munda, 2015. "Beyond Gdp: An Overview Of Measurement Issues In Redefining ‘Wealth’," Journal of Economic Surveys, Wiley Blackwell, vol. 29(3), pages 403-422, July.
    15. Spash, Clive L., 2012. "New foundations for ecological economics," Ecological Economics, Elsevier, vol. 77(C), pages 36-47.

    More about this item

    Keywords

    economics; post-normal science; co-evolution; in stitutional economics; sustainability; incommensurability;

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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