| Author: | Stern, D. I. |
| Title: | Limits to substitution and irreversibility in production and consumption: A neoclassical interpretation of ecological economics |
| Journal: | Ecological Economics
1997 : JUN, VOL. 21:3, p. 197-215 |
| Index terms: | ECOLOGY CONSUMPTION PRODUCTION |
| Language: | eng |
| Abstract: | This article demonstrates how various ideas in ecological economics relate to the "standard model" of neoclassical economics. Ecological economics has important things to say about the possibilities of substitution of commodities in, and irreversible changes in, the technologies of, production and consumption. The connections and parallels between research in these areas have not always been very clear. This attempt to relate these ideas to the corresponding concepts in the neoclassical paradigm helps to illuminate these links. The principal characteristic of ecological economics is its focus on biophysical and psycho-social realities as they aggect the economic system and economic policy. |
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