Research on the cutting edge of economics, ecology, and ethics is presented in this timely study. Building from a theoretical critique of the tradition of cost-benefit analysis, the contributors lay the foundation for a macroeconomics of environmental sustainability and distributive justice. Attention is then turned to three of the most critical areas of social and environmental applied research - biodiversity, climate change, and energy. The contributors redefine progress away from growth and toward development. To this end, the first section of the book tackles the dominant framework used in the US today to evaluate tradeoffs between economic growth and its inherent externalities. Succeeding chapters cover a wide variety of studies related to biodiversity health and energy. Each section is anchored with overviews by top scholars in these areas - including Herman Daly, Carl McDaniel, Stephen Schneider, and Nathan Hagens - and followed by detailed analyses reflecting the transdisciplinary approach of ecological economics. Students and scholars of ecological, environmental, and natural resource economics, sustainability sciences, and environmental studies will find this book of great interest. Non-profit and government agencies in search of methods and cases that merge the study of ecology and economics will also find the analyses of great practical value.

Nicholas Georgescu-Roegen was described by Paul Samuelson as 'an economist's economist'. This book honors him by discussing his theories on a wide range of issues but particularly on environmental and energy economics. It is a dynamic tribute which extends his work to address the problems the human race will face in the 21st century. The book shows how Georgescu-Roegen constructed nothing less than an almost complete theoretical alternative to neoclassical economics. Although best-known for his later work as an environmentalist and his work on energy and material transformation, Georgescu-Roegen also made seminal contributions to the economic theory of utility and production and is considered to be one of the founders of modern mathematical economics. In this book an internationally acclaimed group of contributors including Joan Martinez-Alier, William H. Miernyk, Herman Daly and Cutler Cleveland present discussions on environmental and energy economics as well as mathematical economics, economic development and peasant economies, and bioeconomics. This book serves as an excellent all-inclusive introduction to the work of one of the great economists of the 20th century. This celebration of the contributions made by Georgescu-Roegen will be of interest to environmental and natural resource economists, as well as social and economic theorists. With a dedication by Wassily Leontief and a foreword by Paul Samuelson.

Ultrasocial argues that rather than environmental destruction and extreme inequality being due to human nature, they are the result of the adoption of agriculture by our ancestors. Human economy has become an ultrasocial superorganism (similar to an ant or termite colony), with the requirements of superorganism taking precedence over the individuals within it. Human society is now an autonomous, highly integrated network of technologies, institutions, and belief systems dedicated to the expansion of economic production. Recognizing this allows a radically new interpretation of free market and neoliberal ideology which - far from advocating personal freedom - leads to sacrificing the well-being of individuals for the benefit of the global market. Ultrasocial is a fascinating exploration of what this means for the future direction of the humanity: can we forge a better, more egalitarian, and sustainable future by changing this socio-economic - and ultimately destructive - path? Gowdy explores how this might be achieved.

This important book addresses the prospects for reconciling economic competitiveness with sustainable development. It shows that we cannot simply assume that changes in public attitudes, business policies and government regulation will guarantee the conditions for long-term ecological, social and economic sustainability. On the basis of new original case studies, the authors consider corporate environmental strategies, technological change and sustainable development as a social partnership between firms, citizens and government. They suggest that competitiveness must be considered as a dynamic process requiring proactive and reactive adjustments by business and government institutions all working towards sustainability. Sustainbility and Firms combines intellectual rigour with accessibility to communicate fundamental ideas to help policy decision-makers, enterprise managers, environmental scientists and economists grapple effectively with the problems of competitiveness, technological change, strategies of firms, governance and sustainable development.

"Microeconomic Theory Old and New: A Student's Guide" has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory--establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. Each is discussed verbally, graphically, and using mathematics. After reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system. Although the text focuses on the intellectual framework of standard economic theory, relevant mathematical techniques are discussed.
The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzamura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory.
Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

"Microeconomic Theory Old and New: A Student's Guide" has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory--establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. Each is discussed verbally, graphically, and using mathematics. After reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system. Although the text focuses on the intellectual framework of standard economic theory, relevant mathematical techniques are discussed.
The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzamura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory.
Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

This book explores approaches to sustainability by linking the economy, society and the environment. The international group of experts uses concepts of sustainability from the physical and social sciences to develop a framework for creating policies for sustainability. Sustainability in Question goes beyond much of the existing literature on sustainability taking into account culture, institutions, knowledge and traditions. It sheds new light on the ability of humans to create institutional and social arrangements which are able to adapt to changing conditions. The authors consider the current state of environmental and institutional sustainability within the context of economic activity and public policy. They recognise that some of the basic economic notions such as universal substitutability, methodological individualism and the superiority of the price mechanism may be misplaced in the case of environmental protection. Sustainability in Question will be welcomed by those interested in environmental economics, science, management and environmental studies, as well as by those working in the fields of ecological economics, natural resource economics and environmental sociology.

The grim history of Nauru Island, a small speck in the Pacific Ocean halfway between Hawaii and Australia, represents a larger story of environmental degradation and economic dysfunction. For more than 2,000 years traditional Nauruans, isolated from the rest of the world, lived in social and ecological stability. But in 1900 the discovery of phosphate, an absolute requirement for agriculture, catapulted Nauru into the world market. Colonial imperialists who occupied Nauru and mined it for its lucrative phosphate resources devastated the island, which forever changed its native people. In 1968 Nauruans regained rule of their island and immediately faced a conundrum: to pursue a sustainable future that would protect their truly valuable natural resources--the biological and physical integrity of their island--or to mine and sell the remaining forty-year supply of phosphate and in the process make most of their home useless. They did the latter.
In a captivating and moving style, the authors describe how the island became one of the richest nations in the world and how its citizens acquired all the ills of modern life: obesity, diabetes, heart disease, hypertension. At the same time, Nauru became 80 percent mined-out ruins that contain severely impoverished biological communities of little value in supporting human habitation.
This sad tale highlights the dire consequences of a free-market economy, a system in direct conflict with sustaining the environment. In presenting evidence for the current mass extinction, the authors argue that we cannot expect to preserve biodiversity or support sustainable habitation, because our economic operating principles are incompatible with these activities.