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How Substitutable Is Natural Capital
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Book Synopsis How Substitutable is Natural Capital? by : Anil Markandya
Download or read book How Substitutable is Natural Capital? written by Anil Markandya and published by World Bank Publications. This book was released on with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the recurring themes in the sustainability literature has been the legitimacy of using an economic framework to account for natural resources. This paper examines the potential for substituting between different inputs in the generation of income, where the inputs include natural resources such as land and energy resources. A nested constant elasticity of substitution (CES) production function is used to allow flexibility in the estimated elasticities of substitution. Also, with this specification, natural resources and other inputs are combined in different levels of the function, thus allowing for different levels of substitutability. Institutional and economic indicators are also incorporated in the production function estimated. Results show that the elasticities derived from functions involving land resources were generally around one or greater, implying a fairly high degree of substitutability. Furthermore, changes in trade openness and private sector investment have a statistically significant and direct relationship with income generation. No statistically significant relationship between income and any of the institutional indicators was found.
Book Synopsis Weak Versus Strong Sustainability by : Eric Neumayer
Download or read book Weak Versus Strong Sustainability written by Eric Neumayer and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition of an enduring and popular book has been fully updated and revised, exploring the two opposing paradigms of sustainability in an insightful and accessible way. Eric Neumayer contends that central to the debate on sustainable development is the question of whether natural capital can be substituted by other forms of capital. Proponents of weak sustainability maintain that such substitutability is possible, whilst followers of strong sustainability regard natural capital as non-substitutable. The author examines the availability of natural resources for the production of consumption goods and the environmental consequences of economic growth. He identifies the critical forms of natural capital in need of preservation given risk, uncertainty and ignorance about the future and opportunity costs of preservation. He goes on to provide a critical discussion of measures of sustainability. Indicators of weak sustainability such as Genuine Savings and the Index of Sustainable Economic Welfare also known as the Genuine Progress Indicator are analysed, as are indicators of strong sustainability, including ecological footprints, material flows and sustainability gaps. This book will prove essential reading for students, scholars and policymakers with an interest in ecological and environmental economics and sustainable development.
Book Synopsis Weak Versus Strong Sustainability by : Eric Neumayer
Download or read book Weak Versus Strong Sustainability written by Eric Neumayer and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fourth edition of an enduring and popular book has been fully updated and revised, exploring the two opposing paradigms of sustainability in an insightful and accessible way. Eric Neumayer contends that central to the debate on sustainable development is the question of whether natural capital can be substituted by other forms of capital. Proponents of weak sustainability maintain that such substitutability is possible, whilst followers of strong sustainability regard natural capital as non-substitutable. The author examines the availability of natural resources for the production of consumption goods and the environmental consequences of economic growth. He identifies the critical forms of natural capital in need of preservation given risk, uncertainty and ignorance about the future and opportunity costs of preservation. He goes on to provide a critical discussion of measures of sustainability. Indicators of weak sustainability such as Genuine Savings and the Index of Sustainable Economic Welfare Ð also known as the Genuine Progress Indicator Ð are analysed, as are indicators of strong sustainability, including ecological footprints, material flows and sustainability gaps. This book will prove essential reading for students, scholars and policymakers with an interest in ecological and environmental economics and sustainable development.
Book Synopsis Debating Nature's Value by : Victor Anderson
Download or read book Debating Nature's Value written by Victor Anderson and published by Springer. This book was released on 2019-01-21 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of 'Natural Capital' has come to play a central role in current debates about biodiversity and nature conservation. It implies an approach to the natural world based on the valuation of places and species in terms of money. This is, in a variety of ways, both attractive and problematic. This edited collection comprehensively discusses the issues raised by the concept of 'Natural Capital', with contributors presenting not only arguments for and against the widespread adoption of the idea, but also viewpoints arguing for nuanced, pragmatic and middle-ground positions.
Book Synopsis Sustainable Bioeconomy by : V. Venkatramanan
Download or read book Sustainable Bioeconomy written by V. Venkatramanan and published by Springer Nature. This book was released on 2020-11-06 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable development is the most important challenge facing humanity in the 21st century. The global economic growth in the recent past has indeed exhibited marked progress in many countries. Nevertheless, the issues of income disparity, poverty, gender gaps, and malnutrition are not uncommon in the global landscape, in spite of the upward growth of the economy and technological advances. This grim picture is further exacerbated by our growing human population, unmindful resource use, ever-increasing consumption trends, and changing climate. In order to protect humanity and preserve the planet, the United Nations issued the “2030 agenda for sustainable development,” which includes but is not limited to sustainable production and consumption practices, e.g. in a sustainable bioeconomy. The hallmark of the sustainable bioeconomy is a paradigm shift from a fossil-fuel-based economy to a biological-based one, which is driven by the virtues of sustainability, efficient utilization of resources, and “circular economy.” As the sustainable bioeconomy is based on the efficient utilization of biological resources and societal transformations, it holds the immense potential to achieve the UN’s Sustainable Development Goals. This book shares valuable insights into the linkages between the sustainable bioeconomy and Sustainable Development Goals, making it an essential read for policymakers, researchers and students of environmental studies.
Book Synopsis Restoring Natural Capital by : James Aronson
Download or read book Restoring Natural Capital written by James Aronson and published by Island Press. This book was released on 2012-09-26 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can environmental degradation be stopped? How can it be reversed? And how can the damage already done be repaired? The authors of this volume argue that a two-pronged approach is needed: reducing demand for ecosystem goods and services and better management of them, coupled with an increase in supply through environmental restoration. Restoring Natural Capital brings together economists and ecologists, theoreticians, practitioners, policy makers, and scientists from the developed and developing worlds to consider the costs and benefits of repairing ecosystem goods and services in natural and socioecological systems. It examines the business and practice of restoring natural capital, and seeks to establish common ground between economists and ecologists with respect to the restoration of degraded ecosystems and landscapes and the still broader task of restoring natural capital. The book focuses on developing strategies that can achieve the best outcomes in the shortest amount of time as it: • considers conceptual and theoretical issues from both an economic and ecological perspective • examines specific strategies to foster the restoration of natural capital and offers a synthesis and a vision of the way forward Nineteen case studies from around the world illustrate challenges and achievements in setting targets, refining approaches to finding and implementing restoration projects, and using restoration of natural capital as an economic opportunity. Throughout, contributors make the case that the restoration of natural capital requires close collaboration among scientists from across disciplines as well as local people, and when successfully executed represents a practical, realistic, and essential tool for achieving lasting sustainable development.
Book Synopsis Valuation for Sustainable Development by : Sylvie Faucheux
Download or read book Valuation for Sustainable Development written by Sylvie Faucheux and published by Edward Elgar Publishing. This book was released on 1998 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important new book develops an ecological-economics perspective on sustainability at the regional, national and international level. It explores prospects for sustainable development using methods firmly grounded in empirical reality, as well as emphasizing scientific, economic and socio-political concerns. This approach is based on the construction of non-monetary indicators for sustainability, and the application of cost-effectiveness analyses to identify robust alternatives for the achievement of specified policy norms. In calculating the requirements for sustainability the contributors attach importance to multiple criteria decision aid (MCDA) methods of analysis to evaluate the key components of sustainability and help assess the sustainability of aregional or national economic development trajectory. Case studies of water pollutants in the Bretagne region in France and greenhouse gas reduction in Europe are used to investigate resource allocation from this perspective. The contributors utilize the M3ED model - a structural economy-environment simulation model which gives a multi-sectoral representation of a national economy's production, final consumption and environmental pressures - to explore feasible economic futures. It is applied to scenarios in France to demonstrate ways that prospects for sustainability can be investigated at a national level. The contributors compare and contrast these models with the aims of more typical neoclassical modelling in their search for the most effective approaches to defining operational measures for sustainability. This book will be of great interest to academics in the field of ecological and environmental economics and to policymakers and planners in government and industry.
Book Synopsis How Substitutable is Natural Capital? by : Anil Markandya
Download or read book How Substitutable is Natural Capital? written by Anil Markandya and published by . This book was released on 2005 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the recurring themes in the sustainability literature has been the legitimacy of using an economic framework to account for natural resources. This paper examines the potential for substituting between different inputs in the generation of income, where the inputs include natural resources such as land and energy resources. A nested constant elasticity of substitution (CES) production function is used to allow flexibility in the estimated elasticities of substitution. Also, with this specification, natural resources and other inputs are combined in different levels of the function, thus allowing for different levels of substitutability. Institutional and economic indicators are also incorporated in the production function estimated. Results show that the elasticities derived from functions involving land resources were generally around one or greater, implying a fairly high degree of substitutability. Furthermore, changes in trade openness and private sector investment have a statistically significant and direct relationship with income generation. No statistically significant relationship between income and any of the institutional indicators was found.
Book Synopsis Natural Resources and Economic Development by : Edward B. Barbier
Download or read book Natural Resources and Economic Development written by Edward B. Barbier and published by Cambridge University Press. This book was released on 2019-09-19 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this landmark book explores how natural resources contribute to development in poor economies.
Book Synopsis Natural Capital and Human Economic Survival, Second Edition by : Thomas Prugh
Download or read book Natural Capital and Human Economic Survival, Second Edition written by Thomas Prugh and published by CRC Press. This book was released on 1999-05-20 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most people love nature and consider themselves environmentalists, but nature isn't just pretty and lovable, it is indispensable to our survival and economic activity. That is the most compelling reason for environmental protection. The conventional economic wisdom views land (natural capital) as a small part of the economy, along with capital, labor, technology and so on. The authors argue that this is backwards: that the economy nests within the environment (land) and not the other way around. The authors give a brief history of the origins of conventional economic wisdom and critique it from a the standpoint of ecological economics. They explain what natural capital -our life support system - is and does, and describe the severe strains that have been put on it. They conclude with some policy options, such as green taxes and suggestions for personal action that would conserve natural capital and thus make conserve resources for present and future generations. Natural Capital and Human Economic Survival is written for environmentalists, environmental studies majors and anyone concerned about the flaws of mainstream economics - how it has led us into unsustainable ways of living - and who would like to learn about alternatives that are more sustainable.
Book Synopsis Capitalism as If the World Matters by : Jonathon Porritt
Download or read book Capitalism as If the World Matters written by Jonathon Porritt and published by Earthscan. This book was released on 2007 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 2007. Routledge is an imprint of Taylor & Francis, an informa company.
Book Synopsis Building a Sustainable and Desirable Economy-in-Society-in-Nature by : Peter Victor
Download or read book Building a Sustainable and Desirable Economy-in-Society-in-Nature written by Peter Victor and published by ANU E Press. This book was released on 2013-12-03 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world has changed dramatically. We no longer live in a world relatively empty of humans and their artifacts. We now live in the “Anthropocene,” era in a full world where humans are dramatically altering our ecological life-support system. Our traditional economic concepts and models were developed in an empty world. If we are to create sustainable prosperity, if we seek “improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities,” we are going to need a new vision of the economy and its relationship to the rest of the world that is better adapted to the new conditions we face. We are going to need an economics that respects planetary boundaries, that recognizes the dependence of human well-being on social relations and fairness, and that recognizes that the ultimate goal is real, sustainable human well-being, not merely growth of material consumption. This new economics recognizes that the economy is embedded in a society and culture that are themselves embedded in an ecological life-support system, and that the economy cannot grow forever on this finite planet. In this report, we discuss the need to focus more directly on the goal of sustainable human well-being rather than merely GDP growth. This includes protecting and restoring nature, achieving social and intergenerational fairness (including poverty alleviation), stabilizing population, and recognizing the significant nonmarket contributions to human well-being from natural and social capital. To do this, we need to develop better measures of progress that go well beyond GDP and begin to measure human well-being and its sustainability more directly.
Book Synopsis A New Database on Financial Development and Structure by : Thorsten Beck
Download or read book A New Database on Financial Development and Structure written by Thorsten Beck and published by World Bank Publications. This book was released on 1999 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.
Book Synopsis Inclusive Wealth Report 2018 by : Shunsuke Managi
Download or read book Inclusive Wealth Report 2018 written by Shunsuke Managi and published by Routledge. This book was released on 2018-07-18 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Inclusive Wealth Index provides important insights into long-term economic growth and human well-being. The Index measures the wealth of nations through a comprehensive analysis of a country's productive base and the country’s wealth in terms of progress, well-being and long-term sustainability. It measures all assets which human well-being is based upon, in particular, produced, human and natural capital to create and maintain human well-being over time.
Book Synopsis Elements of Ecological Economics by : Jan Otto Andersson
Download or read book Elements of Ecological Economics written by Jan Otto Andersson and published by Routledge. This book was released on 2010-04-05 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Suitable for short courses in ecological economics, this book takes as its starting point the notion of the 'global-ethical trilemma': the interrelation between justice, sustainability and prosperity. It introduces to the student different attempts to reconcile these three goals and offers a review of how this can be achieved.
Book Synopsis Heat, Greed and Human Need by : Ian Gough
Download or read book Heat, Greed and Human Need written by Ian Gough and published by Edward Elgar Publishing. This book was released on 2017-10-27 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book builds an essential bridge between climate change and social policy. Combining ethics and human need theory with political economy and climate science, it offers a long-term, interdisciplinary analysis of the prospects for sustainable development and social justice. Beyond ‘green growth’ (which assumes an unprecedented rise in the emissions efficiency of production) it envisages two further policy stages vital for rich countries: a progressive ‘recomposition’ of consumption, and a post-growth ceiling on demand. An essential resource for scholars and policymakers.
Book Synopsis Natural Capital and Human Economic Survival, Second Edition by : Thomas Prugh
Download or read book Natural Capital and Human Economic Survival, Second Edition written by Thomas Prugh and published by CRC Press. This book was released on 1999-05-20 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most people love nature and consider themselves environmentalists, but nature isn't just pretty and lovable, it is indispensable to our survival and economic activity. That is the most compelling reason for environmental protection. The conventional economic wisdom views land (natural capital) as a small part of the economy, along with capital, labor, technology and so on. The authors argue that this is backwards: that the economy nests within the environment (land) and not the other way around. The authors give a brief history of the origins of conventional economic wisdom and critique it from a the standpoint of ecological economics. They explain what natural capital -our life support system - is and does, and describe the severe strains that have been put on it. They conclude with some policy options, such as green taxes and suggestions for personal action that would conserve natural capital and thus make conserve resources for present and future generations. Natural Capital and Human Economic Survival is written for environmentalists, environmental studies majors and anyone concerned about the flaws of mainstream economics - how it has led us into unsustainable ways of living - and who would like to learn about alternatives that are more sustainable.
