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Edited by Matthias Ruth and Stefan Goessling-Reisemann

The goal to improve the resilience of social systems – communities and their economies – is increasingly adopted by decision makers. This unique and comprehensive Handbook focuses on the interdependencies of these social systems and the technologies that support them. Special attention is given to the ways in which resilience is conceptualized by different disciplines, how resilience may be assessed, and how resilience strategies are implemented. Case illustrations are presented throughout to aid understanding.
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Managing without Growth, Second Edition

Slower by Design, not Disaster

Peter A. Victor

Ten years after the publication of the first edition of this influential book, the evidence is even stronger that human economies are overwhelming the regenerative capacity of the planet. This book explains why long-term economic growth is infeasible, and why, especially in advanced economies, it is also undesirable. Simulations based on real data show that managing without growth is a better alternative
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Peter A. Victor

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Andrew W. Lo and Ruixun Zhang

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Andrew W. Lo and Ruixun Zhang

This research review discusses and analyses a unique collection of key publications at the intersection of biology and economics, two disciplines that share a common subject: Homo sapiens. Beginning with Thomas Malthus— whose dire predictions of mass starvation due to population growth influenced Charles Darwin— economists have routinely used biological arguments in their models and methods. The review summarizes the most important of these developments in areas such as sociobiology, evolutionary psychology, behavioral ecology, behavioral economics and finance, neuroeconomics, and behavioral genomics. This research review will be an indispensable tool for economists, biologists, and practitioners looking to develop a deeper understanding of the limits of Homo economicus.
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Andrew W. Lo and Ruixun Zhang

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Andrew W. Lo and Ruixun Zhang

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Climate capitalism: emissions, inequality, green growth

Climate Change, Capitalism and Sustainable Wellbeing

Ian Gough

Chapter 3 develops a political economy approach to understand ‘climate capitalism’, a model that aims to square capitalism’s need for profit and continual growth with rapid decarbonisation of the world economy. It analyses the major global drivers of emissions, including population growth, income growth, the eco-efficiency of production, and the global divide between emissions from production and consumption. It then turns to the role of inequalities – international and intra-national – and their impact on emissions and responsibilities for global warming. It outlines and critiques the current dominant perspective of ‘green growth’ powered by investment in renewables and carbon-saving technological change designed to decouple emissions from output. The chapter concludes by noting the current three-way contradiction between economic growth, ending poverty and dangerous climate change.

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Conclusion: a three-stage transition

Climate Change, Capitalism and Sustainable Wellbeing

Ian Gough

Chapter 9 concludes. The idea of common human needs provides an essential alternative to the pursuit of unsustainable consumption growth within contemporary capitalism. Needs are limited; wants are limitless. Yet the pursuit of social welfare and climate stability today cannot be separated from the dynamics and future of capitalist economies. The chapter advocates a three-stage process to reconcile human wellbeing with planetary stability. The first, more eco-efficient green growth, requires a shift from liberal to more coordinated forms of capitalism. The second, recomposing consumption, would require at the least a shift from coordinated to a more ‘reflexive’ form of capitalism. The third, degrowth, is incompatible with the accumulation drive of any form of capitalism yet is ultimately – and quite soon – essential for our future prosperity, if not our very existence. It is for this reason, among others, that this book proposes an interim strategy to recompose consumption in rich countries towards low-carbon need satisfiers. It could provide a viable route from a dangerous present to a seemingly impossible future.

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Decarbonising consumption: needs, necessities and eco-social policies

Climate Change, Capitalism and Sustainable Wellbeing

Ian Gough

Chapter 7 turns from production to consumption and consumption-based emissions. This leads to another policy goal for the rich world: to ‘recompose’ consumption to make it more sustainable. Yet simply redistributing income to low-income households could raise, rather than lower, emissions. This chapter therefore returns to the theory of human need. It sets out a ‘dual strategy’ methodology for identifying a minimum bundle of necessary consumption items in the UK and suggesting how it might be used to identify a maximum bundle for sustainable consumption. In this way a ‘consumption corridor’ between upper unsustainable and lower unacceptable bounds can be charted. In the light of powerful corporate and other interests shaping consumer preferences a broad strategy of upstream prevention is advocated. To implement this approach, further eco-social policies are suggested, including taxing high-carbon luxuries, more social consumption, and household carbon rationing. The conclusion notes that this whole approach challenges some fundamental principles of orthodox economics.