The basic unit of nature – the ecosystem – is a special form of wealth, which we can think of as a stock of natural capital. However, perhaps because this capital is free, we have tended to view it as limitless, abundant and always available for our use, exploitation and conversion. Capitalizing on Nature shows how modeling ecosystems as natural capital can help us to analyze the economic behavior that has led to the overuse of so much ecological wealth. It explains how this concept of ecosystem as natural capital sheds light on a number of important issues, including landscape conversion, ecological restoration, ecosystem resilience and collapse, spatial benefits and payments for ecosystem services. The book concludes by focusing on major policy challenges that need to be overcome in order to avert the worsening problem of ecological scarcity and how we can fund novel financing mechanisms for global conservation.

An introduction to the concepts and tools of natural resource economics, including dynamic models, market failures, and institutional remedies. This introduction to natural resource economics treats resources as a type of capital; their management is an investment problem requiring forward-looking behavior within a dynamic setting. Market failures are widespread, often associated with incomplete or nonexistent property rights, complicated by policy failures. The book covers standard resource economics topics, including both the Hotelling model for nonrenewable resources and models for renewable resources. The book also includes some topics in environmental economics that overlap with natural resource economics, including climate change. The text emphasizes skills and intuition needed to think about dynamic models and institutional remedies in the presence of both market and policy failures. It presents the nuts and bolts of resource economics as applied to nonrenewable resources, including the two-period model, stock-dependent costs, and resource scarcity. The chapters on renewable resources cover such topics as property rights as an alternative to regulation, the growth function, steady states, and maximum sustainable yield, using fisheries as a concrete setting. Other, less standard, topics covered include microeconomic issues such as arbitrage and the use of discounting; policy problems including the “Green Paradox”; foundations for policy analysis when market failures are important; and taxation. Appendixes offer reviews of the relevant mathematics. The book is suitable for use by upper-level undergraduates or, with the appendixes, masters-level courses.

Capitalizing on Environmental Injustice provides a comprehensive overview of the achievements and challenges confronting the environmental justice movement. Pressured by increased international competition and the demand for higher profits, industrial and political leaders are working to weaken many of America's most essential environmental, occupational, and consumer protection laws. In addition, corporate-led globalization exports many ecological hazards abroad. The result is a deepening of the ecological crisis in both the United States and the Global South. However, not all people are impacted equally. In this process of capital restructuring, it is the most marginalized segments of society -poor people of color and the working class-that suffer the greatest force of corporate environmental abuses. Daniel Faber, a leading environmental sociologist, analyzes the global political and economic forces that create these environmental injustices. With a multi-disciplinary approach, Faber presents both broad overviews and powerful insider case studies, examining the connections between many different struggles for change. Capitalizing on Environmental Injustice explores compelling movements to challenge the polluter-industrial complex and bring about meaningful social transformation.

Natural capital is what nature provides to us for free. Renewables—like species—keep on coming, provided we do not drive them towards extinction. Non-renewables—like oil and gas—can only be used once. Together, they are the foundation that ensures our survival and well-being, and the basis of all economic activity. In the face of the global, local, and national destruction of biodiversity and ecosystems, economist Dieter Helm here offers a crucial set of strategies for establishing natural capital policy that is balanced, economically sustainable, and politically viable. Helm shows why the commonly held view that environmental protection poses obstacles to economic progress is false, and he explains why the environment must be at the very core of economic planning. He presents the first real attempt to calibrate, measure, and value natural capital from an economic perspective and goes on to outline a stable new framework for sustainable growth. Bristling with ideas of immediate global relevance, Helm’s book shifts the parameters of current environmental debate. As inspiring as his trailblazing The Carbon Crunch, this volume will be essential reading for anyone concerned with reversing the headlong destruction of our environment.

The worsening environmental crisis has become a serious threat to mankind. The search for a solution to this crisis must begin by understanding its causes. Taking an eco-socialist perspective, The Ecological Crisis and the Logic of Capital explores the logic of capitalism as a fundamental cause of today’s environmental crisis, in particular the thirst for profit and the capitalist mode of production. By demonstrating the inherent antagonism between capital and ecology, this book argues that proposals to resolve the crisis within the capitalist system are utopian, that proposed remedies relying on scientific progress, alternative energies, low-carbon technologies or the introduction of ecological ethics and new attitudes toward Nature into market mechanisms are doomed to failure without a radical overhaul of the principles that govern capitalism.

In the context of the recent financial crisis, the extent to which the U.S. economy has become dependent on financial activities has been made abundantly clear. In Capitalizing on Crisis, Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.S. economy than is suggested by the current preoccupation with financial speculation. Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state’s attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979. Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.

This book sets out the building blocks of an economic approach to biodiversity, and in particular brings together conceptual and empirical work on valuation, international agreements, the policy instruments, and the institutions. The objective is to provide a comprehensive overview of the issues and evidence, and to suggest how this very urgent problem should be addressed. Whilst there has been an enormous growth and research focus on climate change, less attention has been paid to biodiversity. This collection of high-quality chapters addresses the economic issues involved in biodiversity protection. This book focuses on the economics, but incorporates the underpinning science and philosophy, combining the application of a number of theoretical ideas with a series of policy cases. The authors are drawn from leading scholars in their specific areas of economics, philosophy, and conservation biology.

In the midst of the current ecological crisis, there is often lofty talk of the need for humanity to ‘overcome its divisions’ and work together to tackle the big challenges of our time. But as this new book by Razmig Keucheyan shows, the real picture is very different. Just take the case of the siting of toxic waste landfills in the United States: if you want to know where waste is most likely to be dumped, ask yourself where Blacks, Hispanics, Native Americans and other racial minorities live and where the poorest neighbourhoods are. This kind of ‘environmental racism’ is by no means restricted to the United States: it is very much a global phenomenon. Keucheyan show how the capitalist response to the crisis has been marked by a massive expansion in ‘environmental finance’. From ‘carbon markets’ to ‘pollution permits’, ‘climate derivatives’ and ‘catastrophe bonds’, we are seeing a proliferation of nature-related financial products. Instead of tackling the root of the problem, the neoliberal strategy seeks to profit from environmental risks. Moreover, with the rise in natural disasters, resource scarcity, food crises, the destabilization of the poles and oceans and the prospect of tens of millions of ‘climate refugees’, Western powers are increasingly adopting a military response to ecological problems. The Cold War is over: welcome to the ‘green wars’. From New Orleans to the Siachen glacier via the Arctic floes, Keucheyan explores the landmark sites of this new ‘climate geostrategy’. Through a sharp critique of the way capitalism responds to environmental disaster, this innovative book provides a fresh perspective on some of the most critical issues confronting our societies today.

Exploring how green finance has become a key strategy for the financial industry in the wake of the 2007-08 financial crisis, this timely book critically assesses the current dominant forms of neoliberal green finance. Understanding Green Finance delivers a pioneering analysis of the topic, covering the essential tenets of green finance with an emphasis on critical approaches to mainstream views and presenting alternatives insights and perspectives.

Handbook in Environmental Economics, Volume 4, the latest in this ongoing series, highlights new advances in the field, with this new volume presenting timely chapters on Modeling Ecosystems and Economic Systems, Framing Sustainability Policy Questions: Who Leads – Ecology or Economics?, Valuing Natural Capital Within an Integrated Economic Ecological, Developing Economies, Urbanization, Climate Change and Health, Viewing Environmental Policy Instruments for Domestic and International Perspective, Quasi experimental Estimation of Environmental Policies, Environment Macro, The Rules for Formal and Informal Institutions in Managing Environmental Resources, and How Should Uncertainty Be Integrated into the Methods for Policy Evaluation? - Answers key policy questions facing environmental agencies in developed and developing economies - Integrates insights from economics and ecology as part of several key chapters - Presents the latest on efforts to review and evaluate the new literatures on field and quasi experiments in environmental economics - Provides the first substantive review of environmental macro economics