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Ecological economics is more willing to entertain alternative conceptions of utility, efficiency, and cost-benefits such as positional analysis or multi-criteria analysis. Ecological economics is typically viewed as economics for sustainable development, [50] and may have goals similar to green politics.
Ecosystem valuation is an economic process which assigns a value (either monetary, biophysical, or other) to an ecosystem and/or its ecosystem services.By quantifying, for example, the human welfare benefits of a forest to reduce flooding and erosion while sequestering carbon, providing habitat for endangered species, and absorbing harmful chemicals, such monetization ideally provides a tool ...
Natural resource economics deals with the supply, demand, and allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in the economy in order to develop more sustainable methods of managing those resources to ensure their availability for future ...
For example, inflation is a general economic concept, but to measure inflation requires a model of behavior, so that an economist can differentiate between changes in relative prices and changes in price that are to be attributed to inflation. In addition to their professional academic interest, uses of models include:
For example, biodiversity is a source of food, medication, and materials used in industry. Recreation and tourism are also examples of human economic activities that rely on these benefits. In 2018, the WWF Living Planet Report argues that the whole global economy of US$125 trillion ultimately relies on nature. [3]
Ecologically or ecological unequal exchange is a concept from ecological economics that builds from the notion of unequal exchange. It considers the inequities hidden in the monetary value of trade flows not only in terms of wages, and quantities of labor but also regarding materials, energy and environmental degradation .
The achievement of a global eco-social market economy by means of implementing the same ecological and social standards in all institutes and agreements on a global scale. [ 5 ] The funding of these development measures are a levy on financial transactions, a kerosene tax or special drawing rights with the IMF. [ 7 ]
[1] [2] [3] Although indigenous communities have employed sustainable ecosystem management approaches implicitly for millennia, ecosystem management emerged explicitly as a formal concept in the 1990s from a growing appreciation of the complexity of ecosystems and of humans' reliance and influence on natural systems (e.g., disturbance and ...