Economists vs. Ecologists: Bridging the Gap

(Page 4 of 4)

June 18, 2009
By Lester R. Brown, Earth Policy Institute 
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Although the idea that economics must be integrated into ecology may seem radical to many, evidence is mounting that it is the only approach that reflects reality. When observations no longer support theory, it is time to change the theory — what science historian Thomas Kuhn calls a paradigm shift. If the economy is a subset of the Earth’s ecosystem, the only formulation of economic policy that will succeed is one that respects the principles of ecology.

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The good news is that economists are becoming more ecologically aware, recognizing the inherent dependence of the economy on the Earth’s ecosystem. For example, some 2,500 economists — including eight Nobel laureates — have endorsed the introduction of a carbon tax to stabilize climate. More and more economists are looking for ways to get the market to tell the ecological truth.

The existing industrial economic model cannot sustain economic progress. In our shortsighted efforts to sustain the global economy as currently structured, we are depleting the Earth’s natural capital. We spend a lot of time worrying about our economic deficits, but it is the ecological deficits that threaten our long-term economic future. Economic deficits are what we borrow from each other; ecological deficits are what we take from future generations.

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Copyright © 2009 Earth Policy Institute.
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  • Pat Miketinac 7/7/2009 10:32:48 PM

    The "existing industrial economic model" is causing excessive expansion by the world's central banks devaluing currencies by creating fiat money. As the people become impoverished, survival will trump ecology, so correcting economic mistakes is vital to ecology. It seems that only Austrian School economists understand this.

  • John Edward Mercier 6/20/2009 1:52:35 PM

    I think because the author is confusing economic theory with capital acquisition. Its like confusing the term shelter and mansion. One meets a basic survival need, the other is largely capital acquisition.
    I think we as a society might avoid Ecological Economics in that it doesn't meet our traditional sense of 'green'.

  • Aaron Townsley 6/19/2009 11:34:36 AM

    While I agree with the many of the points made in this article, I am surprised that Ecological Economics, and an entire economic field devoted to answering many of the questions posed by the author, isn't mentioned once. While neo-classical economic theory may not be equipped unify economics and ecology, the study of economics (The distribution and exchange of goods and services in a defined system) can be integrated with ecology.

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