Ecological Economics

Ecological economics and related approaches including ecosystem services are relevant as the dominant context of management.

Synonyms

• bioeconomics
• ecolonomy
• eco-economics
• or ecol-econ
• steady-state economics
• post growth

Precursors:

Veblen, Thorstein, and Martha Banta. The Theory of the Leisure Class. 1899. Reprint, Oxford: Oxford University Press, 2009.

Ecosystem Services and Similar

Nature’s Contributions to People is a more recent synonym that attempts to be more inclusive.

Kadykalo, Andrew N., María D. López-Rodriguez, Jacob Ainscough, Nils Droste, Hyeonju Ryu, Giovanni Ávila-Flores, Solen Le Clec’h, et al. ‘Disentangling “Ecosystem Services” and “Nature’s Contributions to People”’. Ecosystems and People 15, no. 1 (1 January 2019): 269–87. https://doi.org/10/ghj5b4.

Criticism

• Ecosystem services are not necessarily positive for humans or other stakeholders
• Costing of such services can be highly damaging
• The concept does not imply services for ecosystems or for nonhuman stakeholders

McCauley, Douglas J. ‘Selling Out on Nature’. Nature 443, no. 7107 (2006): 27–28. https://doi.org/10/ddpxs9.

Related to the notion of circular economy and its mythology.

Giampietro, Mario, and Silvio O. Funtowicz. ‘From Elite Folk Science to the Policy Legend of the Circular Economy’. Environmental Science & Policy 109 (2020): 64–72. https://doi.org/10/ghs6wm.

References

Daly, Herman E., and Joshua C. Farley. Ecological Economics: Principles and Applications. 2nd ed. 2003. Reprint, Washington: Island Press, 2010.

Blühdorn, Ingolfur. ‘Post-Capitalism, Post-Growth, Post-Consumerism? Eco-Political Hopes Beyond Sustainability’. Global Discourse 7 (2017): 42–61. https://doi.org/10/gfsjjr.

Jackson, Tim. Post Growth: Life After Capitalism. Cambridge: Polity, 2021.