Page 177 - Environment: The Science Behind the Stories

Reviewing objectives

you should now be able to: Describe principles of classical and neoclassical
economics and summarize their implications for the
environment
Characterize the influences of culture and worldview
on the choices people make • Classical economics proposes that individuals acting for
their own economic good can benefit society as a whole.
• Culture and personal experience influence a person’s This view has provided a philosophical basis for free-market
worldview. (p. 153)
capitalism. (p. 161)
• Factors such as religion, political ideology, and shared • Neoclassical economics focuses on supply and demand
experiences shape our perspectives on the environment and and quantifies costs and benefits. (pp. 161, 164)
the choices we make. (p. 153)
• Four assumptions of neoclassical economics tend to worsen
environmental impacts. (pp. 164–165)
Outline the nature and historical expansion of ethics in
Western culture • Conventional economic theory promotes infinite eco-

• Environmental ethics applies ethical standards to relation- nomic growth, with little regard to potential environmental
ships between people and aspects of their environments. impact, despite the fact that resource consumption cannot
(p. 154) rise indefinitely. (pp. 165–168)
• We can value things for utilitarian reasons (instrumental
value) or for their own sake (intrinsic value). (p. 154) Illustrate aspects of environmental economics and
ecological economics
• Our society’s domain of ethical concern has been expand- • Environmental economists advocate reforming economic
ing, and we have granted more and more entities ethical practices to promote sustainability. Ecological economists
standing. (pp. 154–155)
agree but advocate going further by pursuing a steady-state
• Anthropocentrism values people above all else, whereas economy. (p. 168)
biocentrism values all life, and ecocentrism values ecologi- • Assigning monetary value to ecosystem goods and services
cal systems. (p. 155)
can help reduce external costs and make market prices
• The industrial revolution inspired philosophical reactions reflect full costs and benefits. (pp. 168–170)
that fed into environmental ethics. (p. 156)
• Full cost accounting indicators aim to measure economic
progress and human well-being more effectively than GDP.
Compare major approaches in environmental ethics (pp. 170–172)
• The preservation ethic, espoused by John Muir, values pre-
serving natural systems intact. (p. 156) Describe how individuals and businesses can help
move our economic system in a sustainable direction
• The conservation ethic, espoused by Gifford Pinchot, pro-
motes responsible long-term use of resources. (pp. 156– • Consumer choice in the marketplace, facilitated by eco-
157) labeling, can encourage businesses to pursue sustainable
practices. (p. 173)
• The philosophy of Aldo Leopold, including his land ethic,
has deeply influenced modern environmental ethics. (pp. • Many corporations are modifying their operations to
157–158) become more sustainable, and this often is financially
profitable. (pp. 173–174)
• Environmental justice seeks equal treatment for people of
all income levels, races, and ethnicities. (pp. 158–159)
Explain the pursuit of sustainable development
Explain how our economies exist within the • Sustainable development promotes people’s economic
environment and rely on ecosystem services advancement while using resources in a way that satisfies
today’s needs without compromising the needs of future
• Economies depend on the ecological systems around them generations. (p. 174)
for natural resources and ecosystem services. (p. 160)
• Advocates of sustainable development pursue environmen-
• Ecosystem services, provided for free by nature, enable our tal, economic, and social goals in a coordinated way. (pp.
economies to prosper. The degradation of ecosystem ser- 174–175)
vices threatens our economic well-being. (pp. 160–161)
• Sustainable development has thrived as a global movement
on the international stage. (p. 175)
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