Ecological Economics, Second Edition: Principles and Applications / Edition 2

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Overview

In its first edition, this book helped to define the emerging field of ecological economics. This new edition surveys the field today. It incorporates all of the latest research findings and grounds economic inquiry in a more robust understanding of human needs and behavior. Humans and ecological systems, it argues, are inextricably bound together in complex and long-misunderstood ways.
 
According to ecological economists, conventional economics does not reflect adequately the value of essential factors like clean air and water, species diversity, and social and generational equity. By excluding biophysical and social systems from their analyses, many conventional economists have overlooked problems of the increasing scale of human impacts and the inequitable distribution of resources.
 
This introductory-level textbook is designed specifically to address this significant flaw in economic thought. The book describes a relatively new “transdiscipline” that incorporates insights from the biological, physical, and social sciences. It provides students with a foundation in traditional neoclassical economic thought, but places that foundation within an interdisciplinary framework that embraces the linkages among economic growth, environmental degradation, and social inequity. In doing so, it presents a revolutionary way of viewing the world.
 
The second edition of Ecological Economics provides a clear, readable, and easy-to-understand overview of a field of study that continues to grow in importance. It remains the only stand-alone textbook that offers a complete explanation of theory and practice in the discipline.

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Editorial Reviews

Book News
"As ecological economics builds upon neoclassical economics, however, this single volume treatment of the relatively new field by Daley (emeritus, U. of Maryland) and Farley (U. of Vermont) goes beyond merely critiquing neoclassical models and instead incorporates them into the main body of the text, thus providing an introduction to many of the main concepts and issues found in standard texts on macroeconomics and microeconomics while also addressing the disciplinary and policy implications of the natural limits to growth."
Reference & Research Book News
"As ecological economics builds upon neoclassical economics, however, this single volume treatment of the relatively new field by Daley (emeritus, U. of Maryland) and Farley (U. of Vermont) goes beyond merely critiquing neoclassical models and instead incorporates them into the main body of the text, thus providing an introduction to many of the main concepts and issues found in standard texts on macroeconomics and microeconomics while also addressing the disciplinary and policy implications of the natural limits to growth."
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Product Details

  • ISBN-13: 9781597266819
  • Publisher: Island Press
  • Publication date: 10/18/2010
  • Edition description: 2
  • Edition number: 2
  • Pages: 544
  • Sales rank: 773,302
  • Product dimensions: 6.80 (w) x 9.00 (h) x 1.50 (d)

Meet the Author

Herman E. Daly is professor at the University of Maryland, School of Public Affairs. He is a cofounder of Ecological Economics, the leading journal in the discipline, and recipient of the Right Livelihood Award, also known as the “alternative Nobel Prize.”
 
Joshua Farley is a professor of community development and applied economics and assistant research professor at the Gund Institute for Ecological Economics at the University of Vermont.

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Table of Contents

Acknowledgments
A Note to Instructors
Introduction
PART I. An Introduction to Ecological Economics
Chapter 1. Why Study Economics?
Chapter 2. The Fundamental Vision
Chapter 3. Ends, Means,and Policy
PART II. The Containing and Sustaining Ecosystem: The Whole
Chapter 4. The Nature of Resources and the Resources of Nature
Chapter 5. Abiotic Resources
Chapter 6. Biotic Resources
Chapter 7. From Empty World to Full World
PART III. Microeconomics
Chapter 8. The Basic Market Equation
Chapter 9. Supply and Demand
Chapter 10. Market Failures
Chapter 11. Market Failures and Abiotic Resources
Chapter 12. Market Failures and Biotic Resources
Chapter 13. Microeconomic Concepts: GNP and Welfare
PART IV. Macroeconomics
Chapter 14. Macroeconomic Concepts:GNP and Welfare
Chapter 15. Money
Chapter 16. Distribution
Chapter 17. The IS-LM Model
PART V. Internatinal Trade
Chapter 18. International Trade
Chapter 19. Globalization
Chapter 20. Financial Globalization
PART VI. Policy
Chapter 21. General Policy Design Principles
Chapter 22. Sustainable Scale
Chapter 23. Just Distribution
Chapter 24. Efficient Allocation
-Looking Ahead
Glossary
Suggested Readings
About the Authors
Index

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  • Posted July 27, 2013

    Economics is perhaps not the most exciting topic you'll ever exp

    Economics is perhaps not the most exciting topic you'll ever explore, but if you only read one text book on the topic, you'll not be sorry you chose this one.
    You don't need to be a practicing economist, or even a student of the field to understand the gist of the presentation. Yes, it's economics, and you'd think that topic is just about as exciting as watching grass grow, (and not without some justification), but this will at least make you think about alternatives to common practice.
    You'll probably never be a wheeler and dealer on Wall St. because you read this, but you may end up smirking and giggling when you hear "learned" presentations on the topic by "officials" and "experts". Read it, and pass it on.
    I am not an economist, nor do I know the authors personally, but my eyesight and street smarts are still pretty good after all these years.

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