Thursday, October 4, 2007

What's Ecological Economics?

Forget to do one thing that I should do in the first post - to explain what Ecological Economics means. Quote from Wiki:

Ecological economics is a transdisciplinary field of academic research that addresses the dynamic and spatial interdependence between human economies and natural ecosystems. Ecological economics brings together and connects different disciplines, within the natural and social sciences but especially between these broad areas.
As the name suggests, the field is comprised of researchers with a background in economics and ecology. An important motivation for the emergence of ecological economics has been criticism on the assumptions and approaches of traditional (mainstream) environmental and resource economics. Ecological economics presents a more pluralistic approach to the study of environmental problems and policy solutions, characterized by systems perspectives, adequate physical and biological contexts, and a focus on long-term environmental sustainability. Ecological economics can be regarded as a version of environmental science with much emphasis on social, political, economic and behavioral issues.

Ecological economics' intellectual ancestry may be traced in large part to political economy, a refinement of early economic theory that includes among its earlier researchers Thomas Malthus, David Ricardo and John Stuart Mill. Mill, in particular, by hypothesizing that the "stationary state" of an economy might be something that could be considered desirable, anticipated later insights of modern ecological economists, without having had their experience of the social and ecological costs of the dramatic post-World War II industrial expansion.

The objective of ecological economics (EE) is to ground economic thinking and practice in physical reality, especially in the laws of physics (particularly the laws of thermodynamics) and in knowledge of biological systems. It accepts as a goal the improvement of human wellbeing through economic development, and seeks to ensure achievement of this through planning for the sustainable development of ecosystems and societies. It distinguishes itself from neoclassical economics (NCE) primarily by its assertion that economics is a subfield of ecology, in that ecology deals with the energy and matter transactions of life and the Earth, and the human economy is by definition contained within this system. In contrast, NCE has historically assumed implicitly (and, more recently, explicitly) that the environment is a subset of the human economy. In this approach, if nature is valuable to our economies, that is because people will pay for its services such as clean air, clean water, encounters with wilderness, etc.


So, it is clear that EE is not a branch of economics but a hybrid of various pentinent disciplines. Urban ecological economics, the field I am working on, is a combination of economics, urban planning and human/physical geography as well. As strange as it is in HK, I sometimes feel lonely when I find no one to share except my supervisor. Well...perhaps, as he said, doing research is a lonely journey.

1 comment:

Anonymous said...

In "My Life as McDull", when Miss Chan calls out the name to check attendence, McDull thinks she isn't calling him.

Is someone calling you but you don't hear?

Can you really be lonelyif you don't open up yourself first?