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Environmental external effects are evidence of the inability of market prices to reflect the interdependence of economic activities undertaken within a common environment. They are an essential - not a peripheral - feature of all market economics. This essay shows how external effects are produced by the interaction of the economy with its environment, using a classical mass-balance model. No matter how efficient the market may seem to be, the use of market prices to determine depletion and pollution decisions creates more problems than it solves. Far from sharing the stable or relatively stable equilibrium properties of most economic models, the market economy is shown to be forced by its environment through a seemingly chaotic sequence of states. Reliance on the market to accommodate each change of direction merely exaggerates the general instability of the system. The 'market solution' to environmental problems is shown to generate only increasing uncertainty, a progressive myopia,

Environmental external effects are evidence of the inability of market prices to reflect the interdependence of economic activities undertaken within a common environment. They are an essential - not a peripheral - feature of all market economics. This essay shows how external effects are produced by the interaction of the economy with its environment, using a classical mass-balance model. No matter how efficient the market may seem to be, the use of market prices to determine depletion and pollution decisions creates more problems than it solves. Far from sharing the stable or relatively stable equilibrium properties of most economic models, the market economy is shown to be forced by its environment through a seemingly chaotic sequence of states. Reliance on the market to accommodate each change of direction merely exaggerates the general instability of the system. The 'market solution' to environmental problems is shown to generate only increasing uncertainty, a progressive myopia,

Biodiversity change is the biggest environmental problem of our time. It leads to much more than species extinctions, affecting the food we eat, the diseases we face, our vulnerability to fire and flood, and our ability to adapt to climate change. Our Uncommon Heritage explores the many dimensions of human-driven biodiversity change. It integrates ecology, economics and policy to examine the causes and consequences of changes in ecosystems, species and genes, and to identify better ways to manage those changes. It explores the place of biodiversity in the wealth of nations, the rights and responsibilities people have for natural resources at local, regional, national and international levels, and the challenges faced in protecting the common good at the global level. This is an important book for students and researchers in the fields of conservation and sustainability science, ecology, natural resource economics and management. It also has much to say to those engaged in international

Biodiversity change is the biggest environmental problem of our time. It leads to much more than species extinctions, affecting the food we eat, the diseases we face, our vulnerability to fire and flood, and our ability to adapt to climate change. Our Uncommon Heritage explores the many dimensions of human-driven biodiversity change. It integrates ecology, economics and policy to examine the causes and consequences of changes in ecosystems, species and genes, and to identify better ways to manage those changes. It explores the place of biodiversity in the wealth of nations, the rights and responsibilities people have for natural resources at local, regional, national and international levels, and the challenges faced in protecting the common good at the global level. This is an important book for students and researchers in the fields of conservation and sustainability science, ecology, natural resource economics and management. It also has much to say to those engaged in international

This volume reports key findings of the Biodiversity Program of the Royal Swedish Academy of Sciences' Beijer Institute. The program brought together a number of eminent ecologists and economists to consider the nature and significance of the biodiversity problem. In encouraging collaborative work between these closely related disciplines it sought to shed new light on the concept of diversity; the implications of biological diversity for the functioning of ecosystems; the driving forces behind biodiversity loss; and the options for promoting biodiversity conservation. The results of the program are surprising. It is shown that the core of the biodiversity problem is a loss of ecosystem resilience and the insurance it provides against the uncertain environmental effects of economic and population growth. This is as much a local as a global problem, implying that biodiversity conservation offers benefits that are as much local as global. The solutions as well as the causes of biodiversi

The field of ecological economics developed in the late 1980s at the intersection of the social and natural sciences, with roots in political economy, ecology, and biology, and has had a significant i

Bioinvasions and Globalization synthesises our current knowledge of the ecology and economics of biological invasions, providing an in-depth evaluation of the science and its implications for managing

Bioinvasions and Globalization synthesizes our current knowledge of the ecology and economics of biological invasions, providing an in-depth evaluation of the science and its implications for managin

How will biodiversity loss affect ecosystem functioning, ecosystem services, and human well-being? In an age of accelerating biodiversity loss, this timely and critical volume summarizes recent advanc

How will biodiversity loss affect ecosystem functioning, ecosystem services, and human well-being? In an age of accelerating biodiversity loss, this timely and critical volume summarizes recent advanc

Economic valuation of biodiversity and ecosystem services is possibly the most powerful tool for halting the loss of biodiversity while maintaining incomes and livelihoods. Yet rarely have such approa