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Ecological Economics

Author

Listed:
  • David I. Stern

    (Crawford School of Public Policy, The Australian National University Author-Email: david.stern@anu.edu.au)

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.

Suggested Citation

  • David I. Stern, 2012. "Ecological Economics," Crawford School Research Papers 1203, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:een:crwfrp:1203
    as

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    File URL: http://www.crawford.anu.edu.au/pdf/crwf_ssrn/crwfrp_1203.pdf
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    References listed on IDEAS

    as
    1. Ropke, Inge, 2004. "The early history of modern ecological economics," Ecological Economics, Elsevier, vol. 50(3-4), pages 293-314, October.
    2. Ma, Chunbo & Stern, David I., 2006. "Environmental and ecological economics: A citation analysis," Ecological Economics, Elsevier, vol. 58(3), pages 491-506, June.
    3. 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.
    4. Pagiola, Stefano, 2008. "Payments for environmental services in Costa Rica," Ecological Economics, Elsevier, vol. 65(4), pages 712-724, May.
    5. 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.
    6. 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.
    7. Common,Michael, 1995. "Sustainability and Policy," Cambridge Books, Cambridge University Press, number 9780521436052, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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