Valuing the Earth: Economics, Ecology, Ethics / Edition 2

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Valuing the Earth collects more than twenty classic and recent essays that broaden economic thinking by setting the economy in its proper ecological and ethical context. They vividly demonstrate that, contrary to current macroeconomic preoccupations, continued growth on a planet of finite resources cannot be physically or economically sustained and is morally undesirable.Among the issues addressed are population growth, resource use, pollution, theology (east and west),energy, and economic growth. Their common theme is the notion, popular with classical economists from Malthus to Mill, that an economic stationary state is more healthful to life on earth than unlimited growth. A number of essays in the first edition have become classics and have been retained for this edition, which adds six new essays.Herman E. Daly is Senior Economist at the World Bank. Kenneth N. Townsend is Associate Professor and Chair of the Department of Economics at Hampden-Sydney College.Contributors: Kenneth E. Boulding. John Cobb. Herman E. Daly. Anne H.

Ehrlich. Paul R. Ehrlich. Nicholas Georgescu-Roegen. Garrett Hardin. John P.

Holdren. M. King Hubbert. C. S. Lewis. E. F. Schumacher. Gerald Alonzo Smith. T. H.

Tietenberg. Kenneth N. Townsend.

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Product Details

  • ISBN-13: 9780262540681
  • Publisher: MIT Press
  • Publication date: 11/24/1992
  • Edition description: second edition
  • Edition number: 2
  • Pages: 399
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.90 (d)

Table of Contents

Introduction 1
Introduction to Essays toward a Steady-State Economy 11
I Ecology: Ultimate Means and Biophysical Constraints
Introduction 51
1 Why Isn't Everyone as Scared as We Are? 55
2 Availability, Entropy, and the Laws of Thermodynamics 69
3 The Entropy Law and the Economic Problem 75
4 Selections from "Energy and Economic Myths" 89
5 Exponential Growth as a Transient Phenomenon in Human History 113
6 The Tragedy of the Commons 127
7 Second Thoughts on "The Tragedy of the Commons" 145
II Ethics: The Ultimate End and Value Constraints
Introduction 155
8 The Age of Plenty: A Christian View 159
9 Buddhist Economics 173
10 The Purpose of Wealth: A Historical Perspective 183
11 Ecology, Ethics, and Theology 211
12 The Abolition of Man 229
III Economics: Interaction of Ends and Means
Introduction 245
13 On Economics as a Life Science 249
14 Sustainable Growth: An Impossibility Theorem 267
15 Steady-State Economies and the Command Economy 275
16 The Economics of the Coming Spaceship Earth 297
17 Spaceship Earth Revisited 311
18 Using Economic Incentives to Maintain Our Environment 315
19 The Steady-State Economy: Toward a Political Economy of Biophysical Equilibrium and Moral Growth 325
20 Postscript: Some Common Misunderstandings and Further Issues Concerning a Steady-State Economy 365
Index 383
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