Customer Reviews

An Introduction to Ecological Economics

5 star:		(2)
4 star:		(1)
3 star:		(0)
2 star:		(1)
1 star:		(0)

 

 

This book is quite literally an "introduction," in the sense of discussing the environment and the deficiencies of neoclassical economics as if the reader had not a clue that multinational corporations (and the powerful governments that aid them) are destroying the capacity of the biosphere to support life, including human life. The text is simple and easy to understand since the writing is at the level of that of the World Book Encyclopedia, with some of the same excessive optimism and a general failure to examine the effects of the law of compound interest and other increasing exponential functions in any mathematically useful way. The bibliography at the back of the book goes on for several pages, but cites dozens and dozens of titles by the same five people who group-authored this book. The citations in the text are usually to entire books, and not to specific passages (except in the case of periodical ariticles), making specific assertions difficult to verify. Obviously intended as a freshman or sophomore college text, it is overpriced and underuseful.

Far more helpful than this vacuous tome is the Worldwatch Institute series "State of the World," issued every year on selected topics edited by Lester R. Brown, with a variety of individually written well-footnoted articles, each on a specific aspect of development and its effects on the environment and people all over the earth. These volumes will remain useful for years to come, and you can get three of the latest books in the series for less than the cost of "An Introduction to Ecological Economics," which you won't want to keep after reading anyway.

Ecological economics is concerned with extending and integrating the study and management of "nature's household" (ecology) and "humankind's household" (economics). Resistance to this new perspective may come from academia as well as industry and governments. On page 10: "Today's market price to polluters for using atmospheric sink capacity for carbon dioxide disposal is zero, although the real opportunity cost may turn out to be astronomical. Economists are almost unanimous in persisting in externalizing the costs of CO2 emissions, even though by 1993 more than 180 nations had signed a treaty to internalize such costs." It would be difficult to praise this book too highly.

I found this book to be a very thorough, well-thought out, and readable introductory treatise on the foundational ideas behind the emerging field of ecological economics. Actually, it struck me as quite profound. The analysis and commentary on the environmental situation facing humanity was insightful, and the interdisciplinary approach to the connections between economics and the environment is very timely.

In the final chapter, the authors make several suggestions of policy instruments that could be used to put these ideas into effect in the economic system. I thought these were well-conceived, and they addressed many of the issues and potential objections traditional economists might raise.

I think that even neoclassical economists ought to be able to read this book without being put off, if they approach it with an open mind and are willing to broaden the perspective of their field. It seems abundantly clear that such a broadening is needed to address environmental and social aspects of economic activity that have emerged during the last half century or so.

I feel that the previous Amazon review that gave the book only two stars is unfair in its assessment and misses the point of the book. This book, by establishing and justifying the underlying principles and philosophy of ecological economics, lays the foundation for proceeding with assessments and actions that other books might describe.

Also to note is that this book is available as an e-book on the Encyclopedia of Earth web site:
[...](e-book)

As an earth scientist and one concerned with the environment, social justice, and the sustainability of humanity and the earth, I have discovered that ecological economics is perhaps the most important cognitive framework for actualizing these concerns. For any progress to be made on these fronts, the economic system must be capable of reflecting these values inherently. This is what ecological economics does. Anyone concerned about these issues should embrace ecological economics as the necessary new paradigm to address 21st century challenges.

If you were browsing in a bookstore and had any interest in this subject, you would most likely buy this book. It provides an important foundation and is for the reader who wants to know the framework of ecological economics -- its origins, its scope (how it is distinct from environmental economics), its uses and its future direction.