An Introduction to Ecological Economics Shared by: gks27426
Beyond Schumacher: Presentation Abstracts An Introduction to
Ecological Economics and a Reintroduction to Schumacher Brian
Czech, Center for the Advancement of the Steady State Economy
Ecological economics is an alternative to conventional or
“neoclassical” economics and is distinguished by a solid
foundation of biological and physical sciences, most notably
ecology and thermodynamics. Ecological economics addresses three
general topics: scale (size of economy relative to ecosystem),
distribution of wealth, and allocation of resources. Criteria
for successful economic policy include sustainable (ideally
optimal) scale, equitable distribution, and efficient
allocation. In neoclassical economics, efficient allocation is
overly emphasized because limits to growth are rarely
acknowledged and, therefore, poverty reduction is relegated to a
metaphor, “a rising tide lifts all boats.” With the imminence of
unprecedented, global supply shocks such as Peak Oil