Written by Econintersect
We post many articles on economics of which some are quite traditional in the discussion of issues and others focus on environmental, ecological, and sustainability issues. In this note we have a short video which clearly defines how these two approaches are different.
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Economics Professor Dan O’Neill from the University of Leeds shows clearly and simply how the orgaization of neoclassical economics is different from that for ecological economics. In essence, the former constructs the economy in isolation from the environment (or “biosphere”). If enviromental factors are considered, they are thought of as “externlities” and not central to the theory or model of the economy.
In ecological economics, the biosphere is considered to contain and interact with the goods, services, and financial relationships of the traditional (neoclassical) view of the economy.
To reference this discussion in a facetious extreme, we earlier saw the tweet below:
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About Dan O’Neill from University of Leeds website:
- Position: Associate Professor in Ecological Economics
- Areas of expertise: ecological macroeconomics; policies for sustainability; environmental, social, and economic indicators; relationships between resource use and human well-being; planetary health
- Location: 11.113 School of Earth and Environment
- Website: YouTube | A Good Life For All Within Planetary Boundaries | Twitter | Googlescholar | ORCID
I am an Associate Professor within the Sustainability Research Institute, and the leader of the Economics and Policy for Sustainability Research Group. My research focuses on the changes that would be needed to achieve a sustainable economy within planetary boundaries, and the relationships between resource use and human well-being.
One of the ideas that I have explored in depth is the concept of a ‘steady-state economy’. Simply put, this is an economy where resource use and waste emissions are stabilised, and kept within ecological limits. Stabilising resource use may have important consequences for national economies, and I investigate how to manage these in my research. Some of the changes that may be required are explored in my book Enough Is Enough: Building a Sustainable Economy in a World of Finite Resources (co-authored with Rob Dietz), which has also been made into a short documentary film by UK film-maker Tom Bliss.
This video is 6 minutes and 36 seconds long. The presentation is excellent.
Source: YouTube
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