Ecological economics

ecological economistecologicalecological economistseconomicsforest carbonforest carbon stockStrong sustainabilitycarbon stockEco-developmentEcological Economics: Ecosystem Services
Ecological economics (also called eco-economics, ecolonomy or bioeconomics of Georgescu-Roegen) is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially.wikipedia
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Nicholas Georgescu-Roegen

Georgescu-RoegenGeorgescu-Roegen, NicholasNicholas Georgescu-Roegen: Criticising neoclassical economics
Ecological economics (also called eco-economics, ecolonomy or bioeconomics of Georgescu-Roegen) is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially.
A progenitor and a paradigm founder in economics, Georgescu-Roegen's work was seminal in establishing ecological economics as an independent academic sub-discipline in economics.

Environmental economics

environmental economistenvironmentalenvironmental cost
By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment.
Environmental economics is distinguished from ecological economics in that ecological economics emphasizes the economy as a subsystem of the ecosystem with its focus upon preserving natural capital.

Sustainability

sustainableenvironmental sustainabilityunsustainable
One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that natural capital can be substituted by human-made capital (see the section on Weak versus strong sustainability below).
Ecological economics studies the fields of academic research that aim to address human economies and natural ecosystems.

Green economy

green economicsgreen economistsgreen
The related field of green economics is, in general, a more politically applied form of the subject.
It is closely related with ecological economics, but has a more politically applied focus.

Schools of economic thought

school of economic thoughteconomic schoolseconomic schools of thought
One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that natural capital can be substituted by human-made capital (see the section on Weak versus strong sustainability below).
Some more recent developments in economic thought such as feminist economics and ecological economics adapt and critique mainstream approaches with an emphasis on particular issues rather than developing as independent schools.

Steady-state economy

steady-state theoristSteady state economysteady state
Concerns over population were expressed by Thomas Malthus, while John Stuart Mill predicted the desirability of the stationary state of an economy. Some key concepts of what is now ecological economics are evident in the writings of Kenneth Boulding and E.F. Schumacher, whose book Small Is Beautiful – A Study of Economics as if People Mattered (1973) was published just a few years before the first edition of Herman Daly's comprehensive and persuasive Steady-State Economics (1977).
Since the 1970s, the concept of a steady-state economy has been associated mainly with the work of leading ecological economist Herman Daly.

Feminist economics

feminist economistfeminist economistsfeminist
Ecological economics shares several of its perspectives with feminist economics, including the focus on sustainability, nature, justice and care values.
Feminist economics shares many of its perspectives with ecological economics and the more applied field of green economy, including the focus on sustainability, nature, justice and care values.

Herman Daly

Herman E. DalyDaly, HermanH.E. Daly
Some key concepts of what is now ecological economics are evident in the writings of Kenneth Boulding and E.F. Schumacher, whose book Small Is Beautiful – A Study of Economics as if People Mattered (1973) was published just a few years before the first edition of Herman Daly's comprehensive and persuasive Steady-State Economics (1977). These began in 1982, at the instigation of Lois Banner, with a meeting held in Sweden (including Robert Costanza, Herman Daly, Charles Hall, Bruce Hannon, H.T. Odum, and David Pimentel).
Herman Edward Daly (born July 21, 1938) is an American ecological and Georgist economist and emeritus professor at the School of Public Policy of University of Maryland, College Park in the United States.

Robert Costanza

Costanza, R.CostanzaCostanza R
These began in 1982, at the instigation of Lois Banner, with a meeting held in Sweden (including Robert Costanza, Herman Daly, Charles Hall, Bruce Hannon, H.T. Odum, and David Pimentel).
Robert Costanza (born September 14, 1950) is an ecological economist and Professor of Public Policy at the Crawford School of Public Policy at The Australian National University.

Sergei Podolinsky

Serhiy Podolynsky
In 1880, Marxian economist Sergei Podolinsky attempted to theorize a labor theory of value based on embodied energy; his work was read and critiqued by Marx and Engels.
Sergei Andreević Podolinsky (19 July 1850 – 1891) was a Ukrainian socialist, physician, and an early pioneer of ecological economics.

Clive Spash

Articles by Inge Ropke (2004, 2005) and Clive Spash (1999) cover the development and modern history of ecological economics and explain its differentiation from resource and environmental economics, as well as some of the controversy between American and European schools of thought.
Clive L. Spash is an ecological economist.

International Society for Ecological Economics

International Society for Ecological Economics (ISEE)ISEE, International Society for Ecological Economics
1989 saw the foundation of the International Society for Ecological Economics and publication of its journal, Ecological Economics, by Elsevier.
The International Society for Ecological Economics (ISEE) was founded in 1989, based heavily on the work of Herman Daly to promote ecological economics and assist ecological economists and related societies.

C. S. Holling

C.S. HollingC S HollingHolling
Other figures include ecologists C.S. Holling and H.T. Odum, biologist Gretchen Daily, and physicist Robert Ayres.
Holling was one of the conceptual founders of ecological economics

Natural capital

naturalNatural capital (N)natural capitals
By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment.

Wealth, Virtual Wealth and Debt

In his book Wealth, Virtual Wealth and Debt (1926), Soddy criticized the prevailing belief of the economy as a perpetual motion machine, capable of generating infinite wealth—a criticism expanded upon by later ecological economists such as Nicholas Georgescu-Roegen and Herman Daly.
Soddy’s economic writings were largely ignored in his time, but would later be applied to the development of ecological economics in the late 20th century.

Nutrient cycle

nutrient cyclingnutrient cyclesnutrient recycling
Half of the value went to nutrient cycling.
Despite Georgescu-Roegen's extensive intellectual contributions to the science of ecological economics, the fourth law has been rejected in line with observations of ecological recycling.

Richard B. Norgaard

Richard Norgaard
Richard B. Norgaard argues traditional economics has hi-jacked the development terminology in his book Development Betrayed.
Richard B. Norgaard (born August 18, 1943) is a Professor Emeritus of Ecological Economics in the Energy and Resources Group at the University of California, Berkeley, the first chair and a continuing member of the Independent Science Board of CALFED (California Bay-Delta Authority), and a founding member and former president of the International Society for Ecological Economics.

Environmental ethics

environmentalenvironmentenvironmental ethicist
There is then a concern that ecological economics has failed to learn from the extensive literature in environmental ethics about how to structure a plural value system.
It exerts influence on a large range of disciplines including environmental law, environmental sociology, ecotheology, ecological economics, ecology and environmental geography.

Howard T. Odum

H.T. OdumHoward OdumOdum
These began in 1982, at the instigation of Lois Banner, with a meeting held in Sweden (including Robert Costanza, Herman Daly, Charles Hall, Bruce Hannon, H.T. Odum, and David Pimentel). Other figures include ecologists C.S. Holling and H.T. Odum, biologist Gretchen Daily, and physicist Robert Ayres.

Sustainable development

sustainablesustainable growthsustainability
Issues of intergenerational equity, irreversibility of environmental change, uncertainty of long-term outcomes, and sustainable development guide ecological economic analysis and valuation.
Leading ecological economist and steady-state theorist Herman Daly, for example, points to the fact that natural capital can not necessarily be substituted by economic capital.

Uneconomic growth

social and environmental costs
This situation is sometimes referred to as uneconomic growth (see diagram above).
Uneconomic growth, in human development theory, welfare economics (the economics of social welfare), and some forms of ecological economics, is economic growth that reflects or creates a decline in the quality of life.

Mainstream economics

mainstreammainstream economistsmainstream economic
By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment.
Some economists, in the vein of ecological economics, believe that the neoclassical "holy trinity" of rationality, greed, and equilibrium, is being replaced by the holy trinity of purposeful behavior, enlightened self-interest, and sustainability, considerably broadening the scope of what is mainstream.

Economy

economiceconomiesnational economy
Ecological economics (also called eco-economics, ecolonomy or bioeconomics of Georgescu-Roegen) is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially.

Frederick Soddy

SoddySir Frederick SoddySoddy, Frederick
The debate on energy in economic systems can also be traced back to Nobel prize-winning radiochemist Frederick Soddy (1877–1956).
This criticism of economic growth is echoed by his intellectual heirs in the now emergent field of ecological economics.

Embodied energy

maximum empowerEcocentric embodied energy analysisecological embodiment/ embeddedness
In 1880, Marxian economist Sergei Podolinsky attempted to theorize a labor theory of value based on embodied energy; his work was read and critiqued by Marx and Engels.