{"id":3479018,"date":"2019-11-06T10:44:10","date_gmt":"2019-11-06T10:44:10","guid":{"rendered":"https:\/\/www.resilience.org\/?p=3479018"},"modified":"2021-05-20T17:43:04","modified_gmt":"2021-05-20T17:43:04","slug":"what-is-ecological-economics-and-why-do-we-need-to-talk-about-it","status":"publish","type":"post","link":"https:\/\/www.resilience.org\/stories\/2019-11-06\/what-is-ecological-economics-and-why-do-we-need-to-talk-about-it\/","title":{"rendered":"What is \u2018Ecological Economics\u2019 and Why Do We Need to Talk About it?"},"content":{"rendered":"

This article is part of a series<\/a> on rebalancing the human\u2013nature interactions that are central to the study and practice of ecological economics, which is the focus of the 2019 ANZSEE Conference<\/a> in Melbourne later this month.<\/em><\/p>\n

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As environmental crises<\/a> and the urgency to create ecological sustainability escalate, so does the importance of ecological economics. This applied, solutions-based field of studies is concerned with sustainability and development, rather than efficiency and growth. Also, given that cities account for 70-80% of global economic activity<\/a> and associated resource use<\/a>, emissions<\/a> and waste<\/a>, they are central to finding solutions to the challenge of sustainability.<\/p>\n

Ecological economics recognises local to global environmental limits. It ranges from research for short-term policy and local challenges through to long-term visions of sustainable societies. Ecological economists also consider global issues such as carbon emissions<\/a>, deforestation<\/a>, overfishing<\/a> and species extinctions<\/a>.
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Core concepts<\/h3>\n

You\u2019re probably familiar with some core concepts of ecological economics. These include \u201csteady-state economies\u201d, \u201ccarrying capacity\u201d, \u201cecological footprints\u201d and \u201cenvironmental justice\u201d.<\/p>\n

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Nicholas Georgescu-Roegen was one of the first economists to argue that an economy faces limits to growth as a result of resource depletion.<\/em><\/p>\n

A steady-state economy<\/a><\/strong> is both relatively stable and respects ecological limits. Drawing on the work of mathematician and economist Nicholas Georgescu-Roegen<\/a>, economist Herman Daly<\/a> elaborated the model, editing a 1973 anthology, Toward a Steady-State Economy<\/a>.<\/p>\n

In 1990, Daly co-founded the International Society of Ecological Economics (ISEE<\/a>). It had three key principles:<\/p>\n

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  • the human economy is embedded in nature, and economic processes are actually biological, physical and chemical processes and transformations<\/li>\n
  • ecological economics is a meeting place for researchers committed to environmental issues<\/li>\n
  • ecological economics requires transdisciplinary work to describe economic processes in relation to physical reality.<\/li>\n<\/ul>\n

    Joshua Farley<\/a>, who has worked with Daly, discusses some of these principles in an opening address to the Australia New Zealand Society of Ecological Economics (ANZSEE<\/a>) conference<\/a> at RMIT University later this month.<\/p>\n

    In a partnership program of several North American universities, Farley teaches Economics for the Anthropocene<\/a> postgraduates. They apply ecological economics to \u201creal-world environmental solutions\u201d. Some will talk at the conference about their research.<\/p>\n

    Today overconsumption is measured against Earth\u2019s carrying capacity<\/a><\/strong>.<\/p>\n

    William Rees<\/a> and Mathis Wackernagel<\/a> developed the related concept of the ecological footprint<\/a><\/strong>. It\u2019s an indicator of the ecological impacts of everyday activities and practices.<\/p>\n

    Ecological footprints are useful ways for industries, governments<\/a> and people<\/a> to assess which practices we need to reduce to keep within the limits of Earth\u2019s regenerative capacity.<\/p>\n