Joshua Farley, University of Vermont

"Ecological versus Environmental Economics – Where Do We Stand?"

Abstract

Ecological Economics is concerned with determining the environmentally sustainable material scale of the economy and ensuring a fair and efficient allocation of economic resources. Ecological Economics sees the economy as being embedded in the larger Earth system and the individual as being embedded in society. It emphasizes the importance of the laws of thermodynamics for economic analysis and draws on insights from the science of ecology as well as from other natural and social sciences. Joshua Farley is the co-author with Herman Daly of a leading textbook on Ecological Economics. In this lecture Professor Farley will lay out the key principles and objectives of Ecological Economics and explain where it differs from and where it overlaps with mainstream Environmental Economics.

Contact person: Peter Birch Sørensen