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Books > Earth & environment > The environment > Environmental economics
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Economics, Sustainability, and Democracy - Economics in the Era of Climate Change (Hardcover)
Loot Price: R4,454
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Economics, Sustainability, and Democracy - Economics in the Era of Climate Change (Hardcover)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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How should we conduct economics in an era of climate change,
natural resource depletion and population increase? These issues
are systemic, and involve great uncertainties and long time
horizons. This book contends that the free-market economics that
has dominated capitalist democracies in recent decades is not up to
the task; that the welfarist economics that preceded it, while
preferable, also has inadequacies; and that what is required is an
economics founded on ecological principles, greater respect for the
laws of natural science, and a moral commitment to a sustainable
future. The book commences with an exposition of major aspects of
orthodox macroeconomic and microeconomic theory. It then explores
the bounds of orthodox theory in relation to ethics, liberalism,
ideology, society, the international economy, globalization, and
the environment, and seeks lessons for a future economics. Issues
raised by natural resource use and climate change are given
particular prominence. Many of the issues of critical importance in
coming decades involve not private goods but public goods: goods
which markets are ill-equipped to deal with. In the resolution of
these issues political processes will need to be engaged. The
availability to each individual of clean air, clean water and
adequate sustenance, goods which cannot be provided for by economic
production alone, are of central concern. While acknowledging the
importance of market processes, the author argues in favour of a
more deliberative and democratic economy, the greater engagement of
civil society, environmental human rights and responsibilities, and
in favour of a World Environment Organization, change in the
conduct of the World Trade Organization, and for economists to
accept moral responsibility for the policies they advocate.
Specific case studies are given and potential policies outlined.
This book will be of interest not only to economists but also to
citizens generally and students concerned with public affairs.
General
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