Alan Holland
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198294894
- eISBN:
- 9780191599064
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294891.003.0003
- Subject:
- Political Science, Environmental Politics
Alan Holland asks whether ‘sustainability’ will deliver the protection of nature. As long as it is taken to mean the extending of human welfare into the future, it may not, he argues, since this does ...
More
Alan Holland asks whether ‘sustainability’ will deliver the protection of nature. As long as it is taken to mean the extending of human welfare into the future, it may not, he argues, since this does not necessarily entail protecting nature. Holland argues against using ‘critical natural capital’ as a measure of sustainability since criticality is often regarded in anthropocentric terms. He argues instead for the protection of nature as ‘natural items themselves’, but recognizes that this objective may sometimes clash with satisfying human needs. Environmental sustainability and social justice, in other words, will not always pull in the same direction.Less
Alan Holland asks whether ‘sustainability’ will deliver the protection of nature. As long as it is taken to mean the extending of human welfare into the future, it may not, he argues, since this does not necessarily entail protecting nature. Holland argues against using ‘critical natural capital’ as a measure of sustainability since criticality is often regarded in anthropocentric terms. He argues instead for the protection of nature as ‘natural items themselves’, but recognizes that this objective may sometimes clash with satisfying human needs. Environmental sustainability and social justice, in other words, will not always pull in the same direction.
Andrew Dobson
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198294955
- eISBN:
- 9780191599071
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294956.003.0005
- Subject:
- Political Science, Environmental Politics
Explores the relationship between the first conception of sustainability and distributive justice, and examines the compatibility between them. The key sustainability question is ‘what is to be ...
More
Explores the relationship between the first conception of sustainability and distributive justice, and examines the compatibility between them. The key sustainability question is ‘what is to be distributed?’ and the answer in this first case is ‘critical natural capital’. Concludes that compatibility will only ever be contingent, since sustainability is about preserving or conserving natural capital while justice is about distributing it fairly.Less
Explores the relationship between the first conception of sustainability and distributive justice, and examines the compatibility between them. The key sustainability question is ‘what is to be distributed?’ and the answer in this first case is ‘critical natural capital’. Concludes that compatibility will only ever be contingent, since sustainability is about preserving or conserving natural capital while justice is about distributing it fairly.
Tim O’Riordan
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780197265536
- eISBN:
- 9780191760327
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197265536.003.0010
- Subject:
- Political Science, Environmental Politics
This chapter looks at the evolving links between markets, citizens, and politics. It offers the scope for virtue, for beneficence, and for responsibility for the future in both market and human ...
More
This chapter looks at the evolving links between markets, citizens, and politics. It offers the scope for virtue, for beneficence, and for responsibility for the future in both market and human behaviour. Three forms of market are addressed: the informal exchange markets, the free markets of liberal ideology, and the social democratic regulated markets which temper the excesses of untrammelled capitalism. In general, all three forms are poorly designed to deliver sustainability and long-term adaptiveness and resilience. Indeed in the ‘free market’ version there are many perverse signals and moralities which seemingly accelerate the onset of tipping points. With attention to well-being as a central tenet of economic success, coupled with virtue politics and citizenship, there is at least some hope for transformation of politics and the markets. But such a profound shift of the many inflexible market cultures may not come with time to make the necessary adjustments.Less
This chapter looks at the evolving links between markets, citizens, and politics. It offers the scope for virtue, for beneficence, and for responsibility for the future in both market and human behaviour. Three forms of market are addressed: the informal exchange markets, the free markets of liberal ideology, and the social democratic regulated markets which temper the excesses of untrammelled capitalism. In general, all three forms are poorly designed to deliver sustainability and long-term adaptiveness and resilience. Indeed in the ‘free market’ version there are many perverse signals and moralities which seemingly accelerate the onset of tipping points. With attention to well-being as a central tenet of economic success, coupled with virtue politics and citizenship, there is at least some hope for transformation of politics and the markets. But such a profound shift of the many inflexible market cultures may not come with time to make the necessary adjustments.
Edward B. Barbier
- Published in print:
- 2014
- Published Online:
- January 2014
- ISBN:
- 9780199676880
- eISBN:
- 9780191756252
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199676880.003.0008
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter outlines the early use of the concept of natural capital to describe the environment through to its more recent extension to include ecosystems. The concept has proved useful, and ...
More
This chapter outlines the early use of the concept of natural capital to describe the environment through to its more recent extension to include ecosystems. The concept has proved useful, and controversial, in both the economics of sustainable development and wealth accounting. Regarding sustainable development, the differing perceptions of “weak” versus “strong” sustainability hinge on the critical distinction between forms of natural capital that is substitutable and irreversibly depleted. As long as one is careful to account for the direct and indirect contributions of ecological capital to human welfare, then it is possible to extend adjusted net domestic product (NDP) to include changes in ecological capital. The example of the US is used to illustrate the more conventional extension of NDP to include basic changes in human and natural capital. Mangrove ecosystems in Thailand are employed to show the additional extension of adjusting NDP for loss of ecological capital.Less
This chapter outlines the early use of the concept of natural capital to describe the environment through to its more recent extension to include ecosystems. The concept has proved useful, and controversial, in both the economics of sustainable development and wealth accounting. Regarding sustainable development, the differing perceptions of “weak” versus “strong” sustainability hinge on the critical distinction between forms of natural capital that is substitutable and irreversibly depleted. As long as one is careful to account for the direct and indirect contributions of ecological capital to human welfare, then it is possible to extend adjusted net domestic product (NDP) to include changes in ecological capital. The example of the US is used to illustrate the more conventional extension of NDP to include basic changes in human and natural capital. Mangrove ecosystems in Thailand are employed to show the additional extension of adjusting NDP for loss of ecological capital.
Trond Bjørndal and Gordon Munro
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199576753
- eISBN:
- 9780191745973
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199576753.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental, Financial Economics
Over the past several decades there has been increasing interest in, and concern about, the economics of the world's capture fishery resources. Massive amounts of resource rent are being lost because ...
More
Over the past several decades there has been increasing interest in, and concern about, the economics of the world's capture fishery resources. Massive amounts of resource rent are being lost because of inadequate management and major rebuilding of fishery resources is called for. This book draws together the latest economic theory of the management of these resources, at both the national and the international levels, and highlights areas where further research is urgently required. The emphasis is on world capture fisheries, rather than fisheries of specific regions, and examples are drawn upon from both developed and developing countries. It combines economic theory and empirical testing with an examination and analysis of resource policy options, with particular emphasis on fisheries management polices at the international level, where some of the most difficult resource management problems are found. The authors maintain that capture fishery resources are properly viewed as a part of society's portfolio of natural capital assets. Consequently, a central theme of the book is that managing such resources should be viewed as asset management through timeLess
Over the past several decades there has been increasing interest in, and concern about, the economics of the world's capture fishery resources. Massive amounts of resource rent are being lost because of inadequate management and major rebuilding of fishery resources is called for. This book draws together the latest economic theory of the management of these resources, at both the national and the international levels, and highlights areas where further research is urgently required. The emphasis is on world capture fisheries, rather than fisheries of specific regions, and examples are drawn upon from both developed and developing countries. It combines economic theory and empirical testing with an examination and analysis of resource policy options, with particular emphasis on fisheries management polices at the international level, where some of the most difficult resource management problems are found. The authors maintain that capture fishery resources are properly viewed as a part of society's portfolio of natural capital assets. Consequently, a central theme of the book is that managing such resources should be viewed as asset management through time
Mathias Risse
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691142692
- eISBN:
- 9781400845507
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691142692.003.0009
- Subject:
- Philosophy, Political Philosophy
This chapter proposes a framework that makes it possible to consider future generations explicitly and presents two future-directed obligations of justice. It argues for a principle of ...
More
This chapter proposes a framework that makes it possible to consider future generations explicitly and presents two future-directed obligations of justice. It argues for a principle of intergenerational equality: each generation can be reasonably expected to leave a nondeclining stock of natural capital behind. It introduces an additional principle of justice relating to the distribution of the original resources and spaces of the earth across different generations of human beings. The chapter first examines Rahul Kumar's view that wronging consists of violations of legitimate expectations in relationships before discussing ways of characterizing our relationship with future generations that have nothing to do with the ownership approach. It then looks at the debate about sustainability and concludes with some reflections on what we can say about duties to future generations that share membership in a state.Less
This chapter proposes a framework that makes it possible to consider future generations explicitly and presents two future-directed obligations of justice. It argues for a principle of intergenerational equality: each generation can be reasonably expected to leave a nondeclining stock of natural capital behind. It introduces an additional principle of justice relating to the distribution of the original resources and spaces of the earth across different generations of human beings. The chapter first examines Rahul Kumar's view that wronging consists of violations of legitimate expectations in relationships before discussing ways of characterizing our relationship with future generations that have nothing to do with the ownership approach. It then looks at the debate about sustainability and concludes with some reflections on what we can say about duties to future generations that share membership in a state.
Geoffrey Heal
- Published in print:
- 2016
- Published Online:
- January 2019
- ISBN:
- 9780231180849
- eISBN:
- 9780231543286
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231180849.003.0008
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Can we place an economic value on natural capital, and if so, is this a useful exercise? We can value many aspects of natural capital, though this raises complex technical issues and also deep ...
More
Can we place an economic value on natural capital, and if so, is this a useful exercise? We can value many aspects of natural capital, though this raises complex technical issues and also deep philosophical questions. In some cases natural capital is bought and sold on markets, so we can look to these for prices: in other cases we have to put in some detective work to track down a measure of value. The values that we find are large, consistent with the idea that natural capital is of great importance.Less
Can we place an economic value on natural capital, and if so, is this a useful exercise? We can value many aspects of natural capital, though this raises complex technical issues and also deep philosophical questions. In some cases natural capital is bought and sold on markets, so we can look to these for prices: in other cases we have to put in some detective work to track down a measure of value. The values that we find are large, consistent with the idea that natural capital is of great importance.
Porter Hoagland, Di Jin, and Stace Beaulieu
- Published in print:
- 2020
- Published Online:
- October 2020
- ISBN:
- 9780198841654
- eISBN:
- 9780191877117
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198841654.003.0002
- Subject:
- Biology, Aquatic Biology, Biodiversity / Conservation Biology
Marine science is now moving quickly to reveal the biophysical, geochemical, and ecological properties of the deep sea. As this understanding grows, deep-sea resources will begin to be exploited more ...
More
Marine science is now moving quickly to reveal the biophysical, geochemical, and ecological properties of the deep sea. As this understanding grows, deep-sea resources will begin to be exploited more extensively, embodying the hopes of many for a Blue Economy. Institutions to govern this exploitation are only just finding their strides or even just emerging, but there are many cases already of resource overuse and degradation, including overfishing and the impacts beginning to be wrought by a changing climate. Progress towards the sustainable development of the deep sea requires useful indicators that point to changes in human well-being as the deep sea is exploited, such as measures of inclusive wealth. Accounting prices for the natural capital of the deep sea would be useful indicators, and several examples are explored to illustrate current understanding and research gaps. A future economic research agenda would involve refining estimates of accounting prices for the most important types of deep-sea natural capital, locating these within linked classifications of ecosystem services and natural capital, and the design and implementation of a system of economic and environmental accounts for the deep sea comprising the high seas, which lies beyond the purview of individual states.Less
Marine science is now moving quickly to reveal the biophysical, geochemical, and ecological properties of the deep sea. As this understanding grows, deep-sea resources will begin to be exploited more extensively, embodying the hopes of many for a Blue Economy. Institutions to govern this exploitation are only just finding their strides or even just emerging, but there are many cases already of resource overuse and degradation, including overfishing and the impacts beginning to be wrought by a changing climate. Progress towards the sustainable development of the deep sea requires useful indicators that point to changes in human well-being as the deep sea is exploited, such as measures of inclusive wealth. Accounting prices for the natural capital of the deep sea would be useful indicators, and several examples are explored to illustrate current understanding and research gaps. A future economic research agenda would involve refining estimates of accounting prices for the most important types of deep-sea natural capital, locating these within linked classifications of ecosystem services and natural capital, and the design and implementation of a system of economic and environmental accounts for the deep sea comprising the high seas, which lies beyond the purview of individual states.
Dieter Helm and Cameron Hepburn
- Published in print:
- 2014
- Published Online:
- January 2014
- ISBN:
- 9780199676880
- eISBN:
- 9780191756252
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199676880.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Biodiversity is complex, difficult to define, difficult to measure, and often involves international and intergenerational considerations. Biodiversity loss presents significant and complex economic ...
More
Biodiversity is complex, difficult to define, difficult to measure, and often involves international and intergenerational considerations. Biodiversity loss presents significant and complex economic challenges. A simple and important observation however is that most species and ecosystems are not traded in markets, so prices are often absent and biodiversity is under-provided. Economic valuation techniques can be employed to estimate the value of the benefits provided by biodiversity and ecosystems. Assessing the “optimum” amount of biodiversity involves recognizing that the conversion of natural capital into manufactured and human capital has so far generated vast wealth. While there may have been “too much biodiversity” in the past, economic analysis suggests that this is a difficult position to hold now. Econometric techniques and carefully designed policy studies help determine what policies are most suited to cost-effectively reduce biodiversity loss. Political economy is helpful because international coordination is often required.Less
Biodiversity is complex, difficult to define, difficult to measure, and often involves international and intergenerational considerations. Biodiversity loss presents significant and complex economic challenges. A simple and important observation however is that most species and ecosystems are not traded in markets, so prices are often absent and biodiversity is under-provided. Economic valuation techniques can be employed to estimate the value of the benefits provided by biodiversity and ecosystems. Assessing the “optimum” amount of biodiversity involves recognizing that the conversion of natural capital into manufactured and human capital has so far generated vast wealth. While there may have been “too much biodiversity” in the past, economic analysis suggests that this is a difficult position to hold now. Econometric techniques and carefully designed policy studies help determine what policies are most suited to cost-effectively reduce biodiversity loss. Political economy is helpful because international coordination is often required.
Dominic Stucker
- Published in print:
- 2009
- Published Online:
- August 2013
- ISBN:
- 9780262012669
- eISBN:
- 9780262255493
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262012669.003.0011
- Subject:
- Political Science, Environmental Politics
This chapter examines environmental injustice in Tajikistan in the form of limited access to and control of natural capital. It describes the rural vulnerability context and highlights the ...
More
This chapter examines environmental injustice in Tajikistan in the form of limited access to and control of natural capital. It describes the rural vulnerability context and highlights the unsustainable livelihood strategies such as child labor, the drug trade, and militant fundamentalism. It discusses the limited influence of civil society and the absence of public participation in decision-making processes. This chapter also explains that shortcomings of environmental governance at the national level and offers some possible steps forward for the environmental justice movement in Tajikistan.Less
This chapter examines environmental injustice in Tajikistan in the form of limited access to and control of natural capital. It describes the rural vulnerability context and highlights the unsustainable livelihood strategies such as child labor, the drug trade, and militant fundamentalism. It discusses the limited influence of civil society and the absence of public participation in decision-making processes. This chapter also explains that shortcomings of environmental governance at the national level and offers some possible steps forward for the environmental justice movement in Tajikistan.
Geoffrey Heal
- Published in print:
- 2016
- Published Online:
- January 2019
- ISBN:
- 9780231180849
- eISBN:
- 9780231543286
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231180849.003.0007
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Natural capital – the complex of objects and systems that constitutes the natural environment or the biosphere - plays a fundamental and irreplaceable role in human life, as stories as diverse as the ...
More
Natural capital – the complex of objects and systems that constitutes the natural environment or the biosphere - plays a fundamental and irreplaceable role in human life, as stories as diverse as the evolution of Earth and its neighboring planets, or of Biosphere 2, clearly illustrate. In addition to being essential to humanity’s existence, it provides on a daily basis services of great but more quotidian importance, such as pollination, insurance against diseases, and drinking water. Yet many of these services go unnoticed and taken for granted, which is one reason why humanity permits the rampant destruction of natural capital, an asset class of great value.Less
Natural capital – the complex of objects and systems that constitutes the natural environment or the biosphere - plays a fundamental and irreplaceable role in human life, as stories as diverse as the evolution of Earth and its neighboring planets, or of Biosphere 2, clearly illustrate. In addition to being essential to humanity’s existence, it provides on a daily basis services of great but more quotidian importance, such as pollination, insurance against diseases, and drinking water. Yet many of these services go unnoticed and taken for granted, which is one reason why humanity permits the rampant destruction of natural capital, an asset class of great value.
Francesco Caselli
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691146027
- eISBN:
- 9781400883608
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691146027.003.0004
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter examines the efficiency with which the aggregate labor input and, respectively, the aggregate capital input are used in production. To this end, it uses an equation that takes into ...
More
This chapter examines the efficiency with which the aggregate labor input and, respectively, the aggregate capital input are used in production. To this end, it uses an equation that takes into account coefficients that operate as augmentation coefficients for “natural capital equivalents,” that is, the capital input expressed in efficiency units of natural capital, and “unskilled-labor equivalents,” or the labor input in efficiency units of unskilled labor. After inferring augmentation coefficients for labor and capital, the chapter estimates variable capital shares and introduces a broader measure of labor inputs. The results reveal an imperfect elasticity of substitution between natural and reproducible capital.Less
This chapter examines the efficiency with which the aggregate labor input and, respectively, the aggregate capital input are used in production. To this end, it uses an equation that takes into account coefficients that operate as augmentation coefficients for “natural capital equivalents,” that is, the capital input expressed in efficiency units of natural capital, and “unskilled-labor equivalents,” or the labor input in efficiency units of unskilled labor. After inferring augmentation coefficients for labor and capital, the chapter estimates variable capital shares and introduces a broader measure of labor inputs. The results reveal an imperfect elasticity of substitution between natural and reproducible capital.
Francesco Caselli
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691146027
- eISBN:
- 9781400883608
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691146027.003.0003
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter examines possible factor biases in the way different countries use reproducible and natural capital, using an equation that also takes into account the bundle of capital goods which, ...
More
This chapter examines possible factor biases in the way different countries use reproducible and natural capital, using an equation that also takes into account the bundle of capital goods which, combined with labor, is used to produce GDP. The goal of the chapter is to determine how the factor bias varies across countries, and in particular how it varies with income per worker. The factor bias requires three ingredients: relative supply, relative marginal products, and elasticity of substitution. After estimating the relative supply of reproducible capital and relative marginal productivities, the chapter infers the bias toward reproducible capital. The results reveal a negative relation between income and relative marginal products.Less
This chapter examines possible factor biases in the way different countries use reproducible and natural capital, using an equation that also takes into account the bundle of capital goods which, combined with labor, is used to produce GDP. The goal of the chapter is to determine how the factor bias varies across countries, and in particular how it varies with income per worker. The factor bias requires three ingredients: relative supply, relative marginal products, and elasticity of substitution. After estimating the relative supply of reproducible capital and relative marginal productivities, the chapter infers the bias toward reproducible capital. The results reveal a negative relation between income and relative marginal products.
Dieter Helm
- Published in print:
- 2017
- Published Online:
- October 2017
- ISBN:
- 9780198803720
- eISBN:
- 9780191844119
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198803720.003.0016
- Subject:
- Economics and Finance, International, Development, Growth, and Environmental
The conventional economic approaches to economic growth have focused on macroeconomic aggregates and on neoclassical microeconomic foundations; on flows rather than stocks; and on utility rather than ...
More
The conventional economic approaches to economic growth have focused on macroeconomic aggregates and on neoclassical microeconomic foundations; on flows rather than stocks; and on utility rather than capabilities. This chapter presents an alternative asset-based approach, focused on balance sheets and capital maintenance. The starting point is the assets necessary to provide the capability for consumers and businesses to participate in the economy. Many of these are infrastructures and public goods, and among these natural capital plays a central role. The depletion of natural capital in the twentieth century, notably the atmosphere and biodiversity, has overstated economic growth and left a legacy of capital maintenance and enhancement. The chapter defines the rules for a sustainable economic growth path, incorporating natural capital.Less
The conventional economic approaches to economic growth have focused on macroeconomic aggregates and on neoclassical microeconomic foundations; on flows rather than stocks; and on utility rather than capabilities. This chapter presents an alternative asset-based approach, focused on balance sheets and capital maintenance. The starting point is the assets necessary to provide the capability for consumers and businesses to participate in the economy. Many of these are infrastructures and public goods, and among these natural capital plays a central role. The depletion of natural capital in the twentieth century, notably the atmosphere and biodiversity, has overstated economic growth and left a legacy of capital maintenance and enhancement. The chapter defines the rules for a sustainable economic growth path, incorporating natural capital.
Alon Tal
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780300189506
- eISBN:
- 9780300190700
- Item type:
- chapter
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300189506.003.0009
- Subject:
- History, Environmental History
This final chapter asks: what are Israel's forests worth? This is a very difficult question to address. Most economists have little grasp of the many ways that forests contribute to human well-being ...
More
This final chapter asks: what are Israel's forests worth? This is a very difficult question to address. Most economists have little grasp of the many ways that forests contribute to human well-being or the quality of daily life. Forests contain “natural capital”; intuitively, people sense the manifold contributions of forests to society, even if they personally are not direct consumers of its many products and services. Recently, efforts have begun to characterize better precisely what these are, so that they won't be overlooked when the value of Israel's forests is decided.Less
This final chapter asks: what are Israel's forests worth? This is a very difficult question to address. Most economists have little grasp of the many ways that forests contribute to human well-being or the quality of daily life. Forests contain “natural capital”; intuitively, people sense the manifold contributions of forests to society, even if they personally are not direct consumers of its many products and services. Recently, efforts have begun to characterize better precisely what these are, so that they won't be overlooked when the value of Israel's forests is decided.
Francesco Caselli
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691146027
- eISBN:
- 9781400883608
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691146027.003.0008
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter concludes that the book has presented evidence showing that technology and technical change are more flexible than generally allowed. The efficiency of different factors changes across ...
More
This chapter concludes that the book has presented evidence showing that technology and technical change are more flexible than generally allowed. The efficiency of different factors changes across countries and over time at different rates. Indeed, in some instances the efficiency with which one factor is used can decline while the efficiency of others increases. Since the 1990s, it has been increasingly clear that technical change tends to have a skill bias, but this book's findings reveal that nonneutralities are much more pervasive than that. They also occur across countries, and not just over time. Furthermore, they invest a broader set of inputs: not only skilled and unskilled labor, but also experienced and inexperienced workers, natural and reproducible capital, and a broad labor aggregate and a broad capital aggregate. The book has merely scratched the surface of the likely patterns of nonneutrality that exist across countries and over time.Less
This chapter concludes that the book has presented evidence showing that technology and technical change are more flexible than generally allowed. The efficiency of different factors changes across countries and over time at different rates. Indeed, in some instances the efficiency with which one factor is used can decline while the efficiency of others increases. Since the 1990s, it has been increasingly clear that technical change tends to have a skill bias, but this book's findings reveal that nonneutralities are much more pervasive than that. They also occur across countries, and not just over time. Furthermore, they invest a broader set of inputs: not only skilled and unskilled labor, but also experienced and inexperienced workers, natural and reproducible capital, and a broad labor aggregate and a broad capital aggregate. The book has merely scratched the surface of the likely patterns of nonneutrality that exist across countries and over time.
Geoffrey Heal
- Published in print:
- 2016
- Published Online:
- January 2019
- ISBN:
- 9780231180849
- eISBN:
- 9780231543286
- Item type:
- book
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231180849.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
In the decades since Geoffrey Heal began his field-defining work in environmental economics, one central question has animated his research: "Can we save our environment and grow our economy?" This ...
More
In the decades since Geoffrey Heal began his field-defining work in environmental economics, one central question has animated his research: "Can we save our environment and grow our economy?" This issue has become only more urgent in recent years with the threat of climate change, the accelerating loss of ecosystems, and the rapid industrialization of the developing world. Reflecting on a lifetime of experience not only as a leading voice in the field, but as a green entrepreneur, activist, and advisor to governments and global organizations, Heal clearly and passionately demonstrates that the only way to achieve long-term economic growth is to protect our environment. Writing both to those conversant in economics and to those encountering these ideas for the first time, Heal begins with familiar concepts, like the tragedy of the commons and unregulated pollution, to demonstrate the underlying tensions that have compromised our planet, damaging and in many cases devastating our natural world. Such destruction has dire consequences not only for us and the environment but also for businesses, which often vastly underestimate their reliance on unpriced natural benefits like pollination, the water cycle, marine and forest ecosystems, and more. After painting a stark and unsettling picture of our current quandary, Heal outlines simple solutions that have already proven effective in conserving nature and boosting economic growth. In order to ensure a prosperous future for humanity, we must understand how environment and economy interact and how they can work in harmony—lest we permanently harm both.Less
In the decades since Geoffrey Heal began his field-defining work in environmental economics, one central question has animated his research: "Can we save our environment and grow our economy?" This issue has become only more urgent in recent years with the threat of climate change, the accelerating loss of ecosystems, and the rapid industrialization of the developing world. Reflecting on a lifetime of experience not only as a leading voice in the field, but as a green entrepreneur, activist, and advisor to governments and global organizations, Heal clearly and passionately demonstrates that the only way to achieve long-term economic growth is to protect our environment. Writing both to those conversant in economics and to those encountering these ideas for the first time, Heal begins with familiar concepts, like the tragedy of the commons and unregulated pollution, to demonstrate the underlying tensions that have compromised our planet, damaging and in many cases devastating our natural world. Such destruction has dire consequences not only for us and the environment but also for businesses, which often vastly underestimate their reliance on unpriced natural benefits like pollination, the water cycle, marine and forest ecosystems, and more. After painting a stark and unsettling picture of our current quandary, Heal outlines simple solutions that have already proven effective in conserving nature and boosting economic growth. In order to ensure a prosperous future for humanity, we must understand how environment and economy interact and how they can work in harmony—lest we permanently harm both.
Francesco Caselli
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691146027
- eISBN:
- 9781400883608
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691146027.003.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book examines how the mode of production, or production technology, varies systematically across countries, depending on their endowments of different factors of production. Using aggregate ...
More
This book examines how the mode of production, or production technology, varies systematically across countries, depending on their endowments of different factors of production. Using aggregate production functions as analytical tools, the book shows that technology differences and technical change are factor biased: they change not only the overall efficiency with which a country exploits its bundle of productive inputs, but also the relative efficiency with which different factors contribute to production. It argues that the efficiency with which skilled labor is used relative to unskilled labor is greater in richer countries than in poorer countries. It also explains why the efficiency with which reproducible capital (equipment and structure) is used relative to natural capital (mineral deposits, land, timber, etc.) is higher in rich countries, and the absolute efficiency with which physical capital is used appears to be not lower, and may even be higher, in poor countries.Less
This book examines how the mode of production, or production technology, varies systematically across countries, depending on their endowments of different factors of production. Using aggregate production functions as analytical tools, the book shows that technology differences and technical change are factor biased: they change not only the overall efficiency with which a country exploits its bundle of productive inputs, but also the relative efficiency with which different factors contribute to production. It argues that the efficiency with which skilled labor is used relative to unskilled labor is greater in richer countries than in poorer countries. It also explains why the efficiency with which reproducible capital (equipment and structure) is used relative to natural capital (mineral deposits, land, timber, etc.) is higher in rich countries, and the absolute efficiency with which physical capital is used appears to be not lower, and may even be higher, in poor countries.
Maria Baker, Eva Ramirez-Llodra, and Paul Tyler (eds)
- Published in print:
- 2020
- Published Online:
- October 2020
- ISBN:
- 9780198841654
- eISBN:
- 9780191877117
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198841654.001.0001
- Subject:
- Biology, Aquatic Biology, Biodiversity / Conservation Biology
The deep ocean is, by far, the planet’s largest biome and holds a wealth of potential natural assets. Most of the ocean lies beyond national jurisdiction and hence is the responsibility of us all. ...
More
The deep ocean is, by far, the planet’s largest biome and holds a wealth of potential natural assets. Most of the ocean lies beyond national jurisdiction and hence is the responsibility of us all. Human exploitation of the deep ocean is rapidly increasing, becoming more visible to many through the popular media. The scientific literature of deep-sea exploitation and its actual and potential effects has also rapidly expanded as a direct function of this increased national and global interest in deep-sea resources, both biological (e.g. fisheries, genetic resources) and non-biological (e.g. minerals, oil, gas, methane hydrate). At the same time there is a growing interest in deep-sea contamination (including plastics), with many such studies featured in high-profile scientific journals and covered by global media outlets. Finally, climate change is affecting even the deepest regions of our oceans and is a major priority for the international scientific and political agendas. However, there is currently no comprehensive integration of information about resource extraction, pollution and effects of climate change and these topics are only superficially covered in classic textbooks on deep-sea biology. The human race is at a pivotal point in potentially benefitting from the deep ocean’s natural resources and this concise and accessible work provides an account of past explorations and exploitations of the deep ocean, a present understanding of its natural capital and how this may be exploited sustainably for the benefit of humankind whilst maintaining its ecological integrity. The book gives a comprehensive account of geological and physical processes, ecology and biology, exploitation, management, and conservation.Less
The deep ocean is, by far, the planet’s largest biome and holds a wealth of potential natural assets. Most of the ocean lies beyond national jurisdiction and hence is the responsibility of us all. Human exploitation of the deep ocean is rapidly increasing, becoming more visible to many through the popular media. The scientific literature of deep-sea exploitation and its actual and potential effects has also rapidly expanded as a direct function of this increased national and global interest in deep-sea resources, both biological (e.g. fisheries, genetic resources) and non-biological (e.g. minerals, oil, gas, methane hydrate). At the same time there is a growing interest in deep-sea contamination (including plastics), with many such studies featured in high-profile scientific journals and covered by global media outlets. Finally, climate change is affecting even the deepest regions of our oceans and is a major priority for the international scientific and political agendas. However, there is currently no comprehensive integration of information about resource extraction, pollution and effects of climate change and these topics are only superficially covered in classic textbooks on deep-sea biology. The human race is at a pivotal point in potentially benefitting from the deep ocean’s natural resources and this concise and accessible work provides an account of past explorations and exploitations of the deep ocean, a present understanding of its natural capital and how this may be exploited sustainably for the benefit of humankind whilst maintaining its ecological integrity. The book gives a comprehensive account of geological and physical processes, ecology and biology, exploitation, management, and conservation.
Matthias Blum, Cristián Ducoing, and Eoin McLaughlin
- Published in print:
- 2017
- Published Online:
- October 2017
- ISBN:
- 9780198803720
- eISBN:
- 9780191844119
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198803720.003.0005
- Subject:
- Economics and Finance, International, Development, Growth, and Environmental
This chapter traces the long-run development of genuine savings (GS) during the twentieth century using a panel of developed countries (Great Britain, Germany, Switzerland, France, the US, and ...
More
This chapter traces the long-run development of genuine savings (GS) during the twentieth century using a panel of developed countries (Great Britain, Germany, Switzerland, France, the US, and Australia) and resource-abundant countries in Latin America (Argentina, Brazil, Chile, Colombia, and Mexico) representing approximately 50% of the world’s output in terms of GDP by 1950. It includes large economies and small open economies, and resource-rich and resource-scarce countries, allowing comparison of their historical experiences. Components of GS considered include physical and human capital as well as resource extraction and pollution damages. Generally, there is evidence of positive GS over the course of the twentieth century, although the two world wars and the Great Depression left considerable marks, but also striking differences between Latin American and developed countries when total factor productivity is included; this could be a signal of natural resource curse or technological gaps unnoticed in previous works.Less
This chapter traces the long-run development of genuine savings (GS) during the twentieth century using a panel of developed countries (Great Britain, Germany, Switzerland, France, the US, and Australia) and resource-abundant countries in Latin America (Argentina, Brazil, Chile, Colombia, and Mexico) representing approximately 50% of the world’s output in terms of GDP by 1950. It includes large economies and small open economies, and resource-rich and resource-scarce countries, allowing comparison of their historical experiences. Components of GS considered include physical and human capital as well as resource extraction and pollution damages. Generally, there is evidence of positive GS over the course of the twentieth century, although the two world wars and the Great Depression left considerable marks, but also striking differences between Latin American and developed countries when total factor productivity is included; this could be a signal of natural resource curse or technological gaps unnoticed in previous works.