Natural Capital and Human Economic Survival

ISBN 10: 1887490019 / ISBN 13: 9781887490016
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Synopsis: Drawing on the theoretical insights and research experience of some of the world's leading ecological economists, Natural Capital and Human Economic Survival argues that mainstream economics has misled citizens and policy makers by viewing natural capital as only a single, rather unimportant, factor of economic production. In contrast, ecological economics views it as the very foundation of the economy.
Natural Capital and Human Economic Survival explains what natural capital is and does, and how it is threatened. It also proposes some revenue-neutral policy options that could restructure the economic system to encourage investment in natural capital. Such policies would work, in part, by properly valuing natural capital resources and services. By helping to "get the prices right," within the context of sustainable ecosystems and a fair distribution of resources they would promote true economic efficiency, equity and sustainability.

From Booklist: One need not be an ecofreak to see that environmental costs and benefits are ignored (or at least undervalued) in the calculus of classical and neoclassical economic theory. Prugh and his associates remedy this "bad accounting" by incorporating ecological concepts into a transdisciplinary approach that recognizes renewable and nonrenewable "natural capital" as an indispensable "life support" base for any economy. The authors contrast the assumptions and consequences of traditional economic analysis with those of an ecological economics perspective; define the nature, function, and value of natural capital; and then suggest a number of specific policy steps--including "green taxes," graded ecozoning, depletion taxes, and ecological tariffs. Such measures would reverse current incentive structures, encourage maintenance of an investment in natural capital, and "get the prices right" for our choices between sustainable and overexploitive use of the planet's limited natural capital. Clearly presented, with helpful charts, sidebars, glossary, and resource list. Mary Carroll

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Thomas Prugh, Robert Costanza, John H. Cumberland, Herman Daly, Robert Goodland, Richard B. Norgaard
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Thomas Prugh, Robert Costanza, John H. Cumberland, Herman Daly, Robert Goodland, Richard B. Norgaard
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Thomas Prugh, Robert Costanza, John H. Cumberland, Herman Daly, Robert Goodland, Richard B. Norgaard
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Thomas Prugh; Robert Costanza; John H. Cumberland; Herman Daly; Robert Goodland; Richard B. Norgaard
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