The Challenge of Ecological Economics: Historical Context and Some Specific Issues

• Authors: Herman E. Daly
• Languages of publication: EN

Abstracts

EN

In this paper author looks at economic system as a part (subsystem) of ecosystem. The nearer the subsystem approaches the total system in scale, the more it must become like the total system in its basic characteristics – finitude, nongrowth, material closure, and reliance on the flow of sunlight as its main energy source. The path of progress for the economy must shift from quantitative growth to qualitative development. It must enter a phase of sustainable development – qualitative improvement without quantitative expansion – a steady-state economy.

Keywords

EN

ECOLOGICAL ECONOMICS; ECOSYSTEM; DEVELOPMENT; GROWTH; SUSTAINABLE DEVELOPMENT; SYSTEM

• Publisher: Sumy State University, Business and Management Academy of Ukraine - Sumy regional branch and Publishing Company 'University Book'
• Journal: Mekhanizm Rehuluvannya Economiky
• Year: 2013
• Volume: 2 (60)
• Pages: 24-29

Contributors

author

Herman E. Daly

• School of Public Policy of University of Maryland, College Park, USA