Environment And Economy

Cover......Page 1
Half Title......Page 2
Series Information......Page 3
Title Page......Page 4
Copyright Page......Page 5
Dedication......Page 6
Epigraph......Page 8
Table of contents......Page 10
Figures......Page 12
Tables......Page 15
Boxes......Page 17
Case studies......Page 19
Preface to Routledge Introductions to Environment Series: Environment and Society......Page 20
Preface......Page 23
Acknowledgements......Page 26
Abbreviations......Page 27
Part I Setting the scene......Page 28
1.1 Environment and economy: friends or foes?......Page 30
1.2 Complementarities and tensions within the economy–environment relationship......Page 31
1.3 Economics and environment: some useful concepts......Page 34
1.4 The environment in early thinking about economics......Page 36
1.5 A tale of many traditions......Page 38
Discussion questions......Page 42
2.1 Kenneth Boulding and spaceship earth......Page 43
2.2 The Club of Rome......Page 45
2.3 Ehrlich and The Population Bomb......Page 47
2.4 E. F. Schumacher and small is beautiful......Page 50
2.5 Howard Odum: thinking in systems......Page 52
2.6 Murray Bookchin: prophet of localization......Page 54
2.7 Hazel Henderson attacks the snake-oil doctors......Page 56
Discussion questions......Page 59
Part II Economic schools and the environment......Page 60
3 Neoclassical economics......Page 62
3.1 Markets, efficient allocation and assessing outcomes......Page 63
3.2 Price, scarcity and substitutability......Page 65
3.3 The environment begins to impinge on the economics profession......Page 67
3.4 Discounting the future......Page 73
3.5 Case study: Putting a price on carbon – the EU  Emissions Trading Scheme......Page 75
Summary questions......Page 77
Further reading......Page 78
4 Environmental economics......Page 79
4.1 Economics with the environment at its heart......Page 80
4.2 Valuing the environment......Page 84
Market pricing techniques......Page 87
Hedonic price methods......Page 88
Experimental methods......Page 89
4.3 When will we be rich enough to save the planet?......Page 90
4.4 Can markets save the planet?......Page 92
4.5 Case study: How much do you like to be beside  the seaside?......Page 94
Summary questions......Page 95
Further reading......Page 96
5 Ecological economics......Page 97
5.1 A break with tradition......Page 98
The contribution of ecology......Page 100
Systems thinking and thermodynamics......Page 104
Extending the concept of capital......Page 108
5.3 From equilibrium to steady state......Page 110
5.4 Case study: Pricing the priceless?......Page 112
Summary questions......Page 115
Further reading......Page 116
6 Green economics......Page 117
6.1 An economy with soul......Page 118
6.2 An alternative to capitalism that isn’t communism......Page 122
6.3 Policies to create a green economy......Page 125
6.4 Ecotopias in the here and now......Page 128
6.5 Case study: Universal basic income – an idea whose time has come?......Page 132
Summary questions......Page 134
Further reading......Page 135
7 Anti-capitalist economics......Page 136
7.1 Capitalism, nature, socialism......Page 137
7.2 Re-including the excluded......Page 141
7.3 Changing the world......Page 147
7.4 Case study: A participatory approach to the allocation of money and goods......Page 151
Further reading......Page 154
Part III Issues and policies......Page 156
8.1 How much change and who should make it?......Page 158
8.2 Regulation or incentive-based instruments?......Page 162
8.3 Measurement issues......Page 169
8.4 Cultural and behavioural change......Page 170
8.5 Case study: From linear to circular economy......Page 172
Summary questions......Page 174
Further reading......Page 175
9 Economic growth......Page 176
9.1 Growth is good......Page 177
9.2 The threat from growth and the steady-state economy......Page 180
9.3 Measurement and efficiency......Page 185
9.4 Link between growth and inequality......Page 188
9.5 From quantity to quality......Page 191
9.6 Case study: Growth or well-being – how to measure  economic success......Page 193
Further reading......Page 195
10 Climate change: the greatest example of market failure?......Page 196
10.1 The most serious issue of our time......Page 197
10.2 The Stern Review: an economist encounters  the environment......Page 200
10.3 Pricing carbon: theory and consequent policies......Page 205
10.4 How to act in a climate emergency......Page 211
10.5 Case study: Land, food and farming in a climate emergency......Page 215
Summary questions......Page 217
Further reading......Page 218
11.1 A science of scarcity......Page 219
11.2 Using prices to protect natural resources......Page 224
11.3 The planet sold to service our desires......Page 227
11.4 Scarcity or abundance......Page 229
11.5 Case study: Fisheries policy......Page 231
Further reading......Page 234
12 Pollution......Page 235
12.1 Neoclassical economics: internalizing the externality......Page 236
12.2 Negotiating shared political action......Page 239
12.3 Working with nature to minimize pollution......Page 242
12.4 One man’s meat is another man’s poison......Page 246
12.5 Case study: The scourge of plastic pollution......Page 248
Discussion questions......Page 251
Further reading......Page 252
13 Globalization vs. localization......Page 253
13.1 All aboard the globalization rollercoaster......Page 254
13.2 Global sceptics......Page 256
13.3 From globalization to the bioregional economy......Page 263
13.4 Case study: A UN binding treaty to protect human rights in the face of corporate power......Page 268
Further reading......Page 270
14 Markets or commons......Page 271
14.1 Markets and property rights as the best protection......Page 272
14.2 Common rights and livelihoods......Page 274
14.3 Back to the future......Page 281
14.4 Case study: Land struggles in Brazil......Page 284
Further reading......Page 286
Conclusion: Is it the economy? Are we stupid?......Page 287
15.1 Too clever for our own good?......Page 288
15.2 Putting the market in its place?......Page 291
15.3 Whose common future?......Page 293
15.4 An oversupply of bad news?......Page 296
15.5 It’s your future; it’s your choice......Page 298
Further reading......Page 299
Glossary......Page 300
Bibliography......Page 303
Index......Page 314