Ecological Economics: Principles and Applications

by Joshua Farley and Herman E. Daly

Book Overview

In its first edition, this book helped to define the emerging field of ecological economics. This new edition surveys the field today. It incorporates all of the latest research findings and grounds... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 1559633123
• ISBN13: 9781559633123
• Release Date: November 2003
• Publisher: Island Press
• Length: 488 Pages
• Weight: 2.41 lbs.
• Dimensions: 1.4" x 7.0" x 9.0"

Customer Reviews

best textbook ever

And I'm not just saying that because I like ecological economics. Before this I used to hate even the idea of textbooks...mostly the fault of high school I guess, but also many college courses. In fact that is the reason why I hesitated to buy this book, but I'm glad I did. This is the only textbook I have been able to read straight through (though slowly and critically) and maintain my focus, interest, and energy. It's very well written and organized, and it's honest and upfront, highlighting debates and differences in opinions, as well as their implications. It is even entertaining on a fairly regular basis. No prior knowledge of economics or natural sciences is necessary, though of course having some helps to make it an easier read. The 2nd edition should take care of some of the minor typos and other editing mistakes. I have seen no serious flaws in the book. If you 1) Have an open mind 2) Respect solid, provocative arguments that challenge the status-quo 3) Are interested in the nature of the relationship between humans and our environment, economics, ecology, sustainability, social justice, or democracy 4) Have tried a standard econ. course and was frustrated by the hordes of inane and offensive or otherwise false assumptions, contradictions and overall lack of scholarly rigor You will probably enjoy this book. I also suggest getting the companion workbook, especially if you are 1) A student (of any age, shape or form) 2) Interested particularly in the fields of environmental policy/management, economics, or ecological economics or 3) Interested in the education system and education reform. It has valuable supplemental information as well as suggestions on how to advance your knowledge and possibly put you into a career path. The pedagogical philosophy espoused in the book is great from my perspective--a student frustrated with the hypocrisies and contradictions of academia and our current education system. Farley makes it clear that fundamental education reform is necessary in order to advance democracy and for us to continue to develop into our greatest human potentials.

At last what we needed

Here at last is a book that sees ecological economics not as a branch of economics or a school of economics but as a broader and deeper system of ideas that includes the sound elements of conventional economics. Herman Daly, the Grand Old Man of the steady state economy, and Joshua Farley, his able younger follower, have produced a comprehensive and very readable synthesis. Traditional economists see natural resources as a subsystem of the world economy. This book presents the economy as a subsystem of the global ecosystem. The effect is like that of climbing a tall tower and seeing that a familiar city was all along part of an island whose fields and forests are in danger of disappearing under the advancing suburbs. The authors have not shied away from including controversial ideas, and there are some that I do not agree with, but that just adds to the stimulation. Not only have I adopted this as the textbook for a course in ecological economics, but I would like to see it read by all economists. This is not a specialist branch of economics; it is the only kind of economics appropriate to the new century.

A Solid Text on an Increasingly Important Science

Ecological economics is a relatively new field that I believe will be central to economics in this century. This text book presents the basics. It is more comprehensive than most other works in this area, and also has greater depth. (If this is your first expedition into ecological economics, though, you might want to try instead "Beyond Growth", by one of this book's co-authors.) This text book points out that ever-greater material consumption provided by never-ending economic growth is the agreed-upon end for traditional economics and most of modern society. The problem with this conventional approach is that it is impossible to achieve, and probably would be undesirable anyway even if we could achieve it. The text offers a fresh approach to one of the most important economic problems of our time. Conventional economics papers over the problem of just distribution of wealth by buying off the poor with the offer of a larger slice of an ever-growing economic pie. Unfortunately, using conventional economic measures like GDP, the pie may look larger even as it is actually shrinking. This ultimately helps no one, least of all the poor. The book argues convincingly that a steady-state economy offers hope of real progress in this area. I don't agree with some of the author's points. The authors spend a lot of time arguing about determinism, relativism, and nihilism, and state that rejection of all these doctrines is necessary for someone to have any opinions on policy. Their argument seems to be that belief in an ultimate end such as God is necessary to believe that anything matters at all. The book's logic here strikes me as a lot less airtight than the authors seem to think. I know plenty of Christians who believe that due to the imminent Second Coming of Christ, humanity's future isn't likely to extend more than a few decades into the future. This belief understandably leads to a certain disregard for the whole concept of sustainability. Many believers in God also think that what we do to the earth doesn't matter very much, because it is all part of God's plan, and anyway the afterlife is what really counts. The atheists of my acquaintance tend, on average, to be much more concerned about humanity's long-term future, since they can't count on God to pull a rabbit out of a hat. The text's authors criticize the idea that sustainability can be achieved by internalizing all external costs and benefits. Such internalization has problems, certainly, but I think the problems are more solvable than the authors do. I very much liked the text's analysis of goods as excludable or non-excludable, and rival or non-rival. For nonexcludable rival goods (such as fisheries) the authors state that rational self-interest creates an invisible foot that kicks the common good in the rear--one of the many memorable phrases in this book. I was glad to see a discussion of the positional nature of welfare--meaning that above a certain

Revolutionizes the traditional approach to a social science

The collaboration of academicians Herman Daly (University of Maryland, School of Public Affairs) and Joshua Farley (Gund Institute of Ecological Economics, University of Vermont), Ecological Economics: Principles And Applications is a scholarly economics textbook that also incorporates the critical importance of such factors as clean air and water, species diversity, and social and generational equity. An introductory-level resource ideal for both students and non-specialist general readers with an interest in economics and ecology, Ecological Economics revolutionizes the traditional approach to a social science while retaining a tight grasp upon core driving principles of macroeconomics and microeconomics alike. A seamlessly integrated, holistic approach to understanding and appreciating the tangled complexities of the modern world.

Most up-to-date and detailed "textbook" in this area

Edit of 21 Dec to add links. Dr. Herman E. Daly may well be a future Nobel Prize winner ...he is especially well-regarded in Norway and Sweden, where he has received prizes one step short of the Nobel. He is the author, co-author, or primary contributing editor of many books that fully integrate the disciplines of economics and ecology. I bought the three most recent for the purpose of selecting one to give out at my annual Global Information Forum. I ended up choosing For the Common Good: Redirecting the Economy toward Community, the Environment, and a Sustainable Future, in part because it is available in paperback and is not a more expensive "trade" publication; and in part because it is strong in laying out specific ecological policy areas in the context of a strong theological or ethical perspective. More on that in its own review. Of the three books (the third one that I reviewed is Valuing the Earth: Economics, Ecology, Ethics) this, the text-book, is assuredly the most up-to-date and the most detailed. If you are buying only one book for yourself, this is the one that I recommend, because these are important issues and a detailed understanding is required with the level of detail that this book provided. It should, ideally, be read with "Valuing the Earth" first (see my separate review of that book, from the 1970's updated with 1990's material and new contributions), then "For the Common Good", and finally the text book as a capstone. But if you buy only one, buy this one. Tables of contents rarely do justice to the contents but in this case, they excel. This is one of the most intelligent, structured, useful outlines it has been my privilege to examine. Read the Table of Contents information provided by the publisher to satisfy yourself. From Part I with three chapters (An Introduction to Ecological Economics) to Part II with 4 chapters (The Containing and Sustaining Ecosystem: The Whole) to Parts III and IV (Microeconomics and Macroeconomics, respectively, five and four chapters each) to Part V with four chapters (International Trade), and finally to Part VI (Policy) with chapters on General Policy Design Principles, on Sustainable Scale, on Just Distribution, and on Efficient Allocation, the content of the book is elegantly organized and accurately described. Readings and other references make this a true textbook suitable for policy adults, graduate students, and undergraduates. It is the perfect single book in this field, not least because of its appreciation for religious vision and ethics as a foundation for making decisions that favor sustainable community over corporate greed and government fiat. Dr. Joshua Farley as co-author appears to have brought a rich background as first an understudy and then an original contributor in his own right. God willing, America will one day have a President that uses the co-authors as primary advisors, along with E. O. Wilson, Brian Czech, and J. F. Rischard, among a handful I p