Frontier Issues in Ecological Economics

Now that we have determined the environment has a bottom line along with a moral imperative, we have begun to understand how mainstream economic standards failed to deal with the interdependent social, ecological and economic systems involved. Since the 1980s economists have created ways to reconcile environmental stewardship and sustainability with such objectives as full employment and sensitivity to indigenous culture. Lawn (environmental and ecological economics, Flinders U.) introduces readers to his field, and clears up fears that "development" and "sustainable" are incompatible in theory and practice. He explains the concept of "natural capital" and shows how it applied to maximum welfare for both the earth and humans, gives the indicators that development is or is becoming sustainable and the policy issues involved, and shows how economists have, or have not, altered their perceptions at an international scale. Annotation 穢2007 Book News, Inc., Portland, OR (booknews.com)