Bio102-Chap14Notes

Bio102-Chap14Notes - Ecological Economics – Themes: I....

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Ecological Economics – Themes: I. Economic Systems (Worldviews) Ecological Economics II. Resources, Capital, and Reserves (briefly) Population and Scarcity III. Environ. problems w/ Market Economies IV. Economic Solutions for Environmental Problems V. Green Business ! I. Economics - Worldviews Command Economic System - economic decisions made by government Capitalistic System - Market competition between sellers and buyers brings about the greatest efficiency of resource use Adam Smith - Founder of modern western economics Mixed Market Economy - Gov. control used to “fix” problems of pure market economy Demand is the amount of a product or service consumers are willing to buy at various prices Supply is the quantity of that product being offered for sale at various prices Problems with “pure market” economy: Monopolies / Cartels Cycles / Lags (esp. in agriculture) Price elasticity Wealth distribution Protection of Environment (Sustainability) ! At the end of the 19 th Century, the field of economics divided into two camps: Political Economy was concerned with social structures, value systems, and relationships among classes Neoclassical Economics adapted principles of modern science to economic analysis Retained emphasis on scarcity and supply and demand in determining prices and resource allocation Neoclassical Economics adapted principles of modern science to economic analysis Growth is seen as a necessity Natural resources viewed as merely factors of production rather than critical supplies of materials, services, and waste sinks Ecological Economics
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This note was uploaded on 04/14/2008 for the course BIOL 102 taught by Professor Kemp during the Fall '06 term at San Diego.

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Bio102-Chap14Notes - Ecological Economics – Themes: I....

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