Ecological Economics. An Introduction

Citation

Simonis, U.E. (2009), "Ecological Economics. An Introduction", International Journal of Social Economics, Vol. 36 No. 3, pp. 308-309. https://doi.org/10.1108/03068290910932774

Here it is – the book we have been waiting for so long. Now, the students of economics can put aside their “Samuelson” or their “Mankiv”, a better, a more appropriate book has appeared – the “Common and Stagl”. The authors are Europeans – no wonder, as it is in this part of the world where many cradles of the eco‐movement stand. They also meet the gender and the generation issue: Michael Common, Professor emeritus at the Graduate School of Environmental Studies at Strathclyde University, and Sigrid Stagl, a young Fellow at the Science and Technology Research Institute, University of Sussex. Two interesting authors – no doubt. But how do they tackle their stupendous theme?

Ecological economics, they start with, is about the relationships between human beings and the functioning of nature, between “human housekeeping” and “nature's housekeeping”. It's about the interactions between economic systems and ecological systems – interdependence is what ecological economics is all about (p. 1). Therefore, all economists should appreciate that the material basis of economic activity is the natural environment. Accordingly, they should develop ideas on how the long‐term preservation of the natural environment becomes feasible in view of the dominating short‐term human interests in growth and welfare.

The task, the approach and the strength of this book lies in the integration of essential elements and concepts of the natural and the social sciences. For economics students (and professors), the authors provide a basic understanding of the biophysical foundations and the environmental impacts of economic activities. For ecology students (and professors) they provide a well‐defined and accessible introduction to the terms, concepts and methods of economics, especially on the interplay between economic growth, resource use and environmental impacts. A better balance between economy and ecology, the goal and pursuit of sustainable development cannot be left to the market alone – there are peremptory state functions and there is need for strong public involvement.

According to this self‐image of the authors, the book is being organised: “Interdependent Systems”, “Economic Activities and their Impacts”, and “Governance” are the first three parts, followed by part four on “The International Dimension”. Within this overall structure, 14 chapters subdivide the whole theme. Chapter 4 is the essential part of the book: “The economy in the environment – a conceptual framework”. “Economic growth and human well‐being”, “Economic growth and the environment”, are other essential chapters. Exchange and markets, market failure, equity and sustainability lead to the need for governance beyond the market, to operationalising the precautionary principle and the implementation of adequate environmental policy instruments. The diminishing significance of the nation state in the process of globalisation makes the case for international agreements on trade and the protection of global public goods – tasks that in part four of the book are exemplified with the topics of climate change and biodiversity loss.

The authors pay special tribute to the pedagogical tasks of a textbook. Each chapter begins with a statement of what it will cover. Focus boxes enliven the material with real‐world illustrations. Keywords are highlighted in bold throughout the text. At the end of each chapter questions stimulate the discussion, and exercises encourage students (and professors) to work with and apply the material. There is also a Further Reading section and a list of Website Addresses.

Is something missing? Well, the only thing I found missing was that some references could have been added on the evolution of ecological economics as a new strand of thought. There were such important pathfinders as Robert U. Ayres, Kenneth Boulding, K. William Kapp, Donella and Dennis Meadows, Ezra Mishan, Shigeto Tsuru and others who made the idea going. In the second edition of the book, I hope, such references will be integrated.

All in all, I think it's appropriate to say that Michael Common and Sigrid Stagl have written the best, most coherent and definite text to date on ecological economics. It's a clearly structured, easily understandable and at the same time most powerful text with the insistent message that one should not negate the ecological effects of the economy – and that sustainability should become the major imperative for future development.

I wish the book full success in kicking Samuelson, Mankiv and many other conventional economic textbooks out.