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Unformatted text preview: l may be irreversible: for instance, once a species goes
extinct, it is lost forever. Some components of ecosystems like coral reefs cannot be removed without collapse
of the entire ecosystem. A coral reef is an example of critical natural capital, since no other form of capital can
substitute for it (Adams 2006)." According to Ott (2003) “Many economists now accept that a minimum stock
of natural capital is critical for human survival and well-being. If so, weak sustainability needs to integrate a
notion of critical natural capital, including criteria for its determination… But if economists accept the
necessity of critical natural capital, they implicitly drop the assumption of unlimited substitutability.” The
precautionary principle and the minmax principle (strategy for minimizing potential loss while maximizing
potential gain) both argue for strong sustainability (Ott 2003). Thus, in this book we advocate strong
sustainability, in which sustainable development and sustainable maintenance require that we balance the
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This note was uploaded on 01/08/2014 for the course SUST 510 taught by Professor Marker during the Fall '14 term at Black Hills State University.
- Fall '14