Book contents
- Economics for a Fragile Planet
- Economics for a Fragile Planet
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Preface
- Acknowledgments
- 1 Introduction
- 2 Humankind and the Planet
- 3 Economics for a Fragile Planet
- 4 Climate Change
- 5 Land Use Change and Biodiversity
- 6 Freshwater
- 7 Oceans and Coasts
- 8 Public Policies
- 9 Business
- 10 Conclusion
- References
- Index
3 - Economics for a Fragile Planet
Published online by Cambridge University Press: 24 March 2022
- Economics for a Fragile Planet
- Economics for a Fragile Planet
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Preface
- Acknowledgments
- 1 Introduction
- 2 Humankind and the Planet
- 3 Economics for a Fragile Planet
- 4 Climate Change
- 5 Land Use Change and Biodiversity
- 6 Freshwater
- 7 Oceans and Coasts
- 8 Public Policies
- 9 Business
- 10 Conclusion
- References
- Index
Summary
The need to curb human activities threatening critical Earth system processes, resources and sinks is an important starting point for thinking how best to manage our planet in an efficient, sustainable and inclusive manner. Chapter 3 explains how this can form the basis for an “economics for a fragile planet.” This perspective began with Kenneth Boulding in the 1960s, who argued that the Earth is ultimately finite, and thus, transition to a “spaceship economy” that respects such limits is unavoidable. The implications are that the exploitation of Earth’s sources of natural resources and sinks for pollution is not limitless, and that it is essential to end the underpricing of nature that currently ignores the rising costs associated with ecological scarcity and environmental degradation. This requires in turn rethinking the markets, institutions and governance needed for a green and inclusive economic transformation. The overall objective should be to manage an economy’s overall stock of physical, human and natural capital to sustain per capita human welfare while limiting global environmental risks.
Keywords
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- Information
- Economics for a Fragile PlanetRethinking Markets, Institutions and Governance, pp. 55 - 73Publisher: Cambridge University PressPrint publication year: 2022