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| Acknowledgments | |
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| A Note to Instructors | |
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| Introduction | |
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| An Introduction to Ecological Economics | |
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| Why Study Economics? | |
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| What Is Economics? | |
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| The Purpose of This Textbook | |
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| Coevolutionary Economics | |
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| The Era of Ecological Constraints | |
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| Big Ideas to Remember | |
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| The Fundamental Vision | |
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| The Whole and the Part | |
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| Optimal Scale | |
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| Diminishing Marginal Returns and Uneconomic Growth | |
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| A Paradigm Shift | |
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| Say's Law: Supply Creates Its Own Demand | |
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| Leakages and Injections | |
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| Linear Throughput and Thermodynamics | |
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| Big Ideas to Remember | |
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| Ends, Means, and Policy | |
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| Ends and Means--A Practical Dualism | |
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| The Presuppositions of Policy | |
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| Determinism and Relativism | |
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| The Ends-Means Spectrum | |
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| Three Strategies for Integrating Ecology and Economics | |
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| Big Ideas to Remember | |
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| Conclusions to Part I | |
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| The Containing and Sustaining Ecosystem: the Whole | |
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| The Nature of Resources and the Resources of Nature | |
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| A Finite Planet | |
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| The Laws of Thermodynamics | |
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| Stock-Flow Resources and Fund-Service Resources | |
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| Excludability and Rivalness | |
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| Goods and Services Provided by the Sustaining System | |
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| Big Ideas to Remember | |
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| Abiotic Resources | |
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| Fossil Fuels | |
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| Mineral Resources | |
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| Water | |
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| Ricardian Land | |
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| Solar Energy | |
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| Summary Points | |
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| Big Ideas to Remember | |
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| Biotic Resources | |
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| Ecosystem Structure and Function | |
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| Renewable Resources | |
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| Ecosystem Services | |
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| Waste Absorption Capacity | |
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| Big Ideas to Remember | |
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| From Empty World to Full World | |
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| Fossil Fuels | |
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| Mineral Resources | |
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| Water | |
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| Renewable Resources | |
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| Waste Absorption Capacity | |
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| Big Ideas to Remember | |
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| Conclusions to Part II | |
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| Microeconomics | |
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| The Basic Market Equation | |
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| Components of the Equation | |
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| What Does the Market Equation Mean? | |
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| Monopoly and the Basic Market Equation | |
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| Non-Price Adjustments | |
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| Supply and Demand | |
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| Big Ideas to Remember | |
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| Supply and Demand | |
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| A Shift in the Curve Versus Movement Along the Curve | |
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| Equilibrium P and Q, Shortage and Surplus | |
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| Elasticity of Demand and Supply | |
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| The Production Function | |
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| The Utility Function | |
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| Big Ideas to Remember | |
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| Market Failures | |
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| Characteristics of Market Goods | |
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| Rivalness | |
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| Open Access Regimes | |
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| Excludable and Nonrival Goods | |
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| Pure Public Goods | |
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| Externalities | |
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| Missing Markets | |
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| Summary Points | |
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| Big Ideas to Remember | |
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| Market Failures and Abiotic Resources | |
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| Fossil Fuels | |
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| Mineral Resources | |
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| Freshwater | |
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| Ricardian Land | |
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| Solar Energy | |
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| Big Ideas to Remember | |
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| Market Failures and Biotic Resources | |
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| Renewable Resource Stocks and Flows | |
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| Renewable Resource Funds and Services | |
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| Waste Absorption Capacity | |
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| Biotic and Abiotic Resources: The Whole System | |
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| Big Ideas to Remember | |
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| Conclusions to Part III | |
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| Macroeconomics | |
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| Macroeconomic Concepts: GNP and Welfare | |
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| A Troubled Marriage | |
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| Gross National Product | |
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| Sustainable Income | |
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| Alternative Measures of Welfare: MEW and ISEW | |
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| Beyond Consumption-Based Indicators of Welfare | |
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| Big Ideas to Remember | |
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| Money | |
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| Virtual Wealth | |
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| Seigniorage | |
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| The Fractional Reserve System | |
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| Money as a Public Good | |
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| Money and Thermodynamics | |
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| Big Ideas to Remember | |
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| Distribution | |
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| Pareto Optimality | |
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| The Distribution of Income and Wealth | |
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| The Functional and Personal Distribution of Income | |
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| Measuring Distribution | |
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| Consequences of Distribution for Community and Health | |
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| Intertemporal Distribution of Wealth | |
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| Big Ideas to Remember | |
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| The IS-LM Model | |
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| IS: The Real Sector | |
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| LM: The Monetary Sector | |
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| Combining IS and LM | |
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| Exogenous Changes in IS and LM | |
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| IS-LM and Monetary and Fiscal Policy | |
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| IS-LM in the Real World | |
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| Adapting IS-LM to Ecological Economics | |
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| Big Ideas to Remember | |
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| Conclusions to Part IV | |
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| International Trade | |
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| International Trade | |
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| The Classical Theory: Comparative Advantage | |
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| Kinks in the Theory | |
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| Capital Mobility and Comparative Advantage | |
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| Absolute Advantage | |
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| Globalization vs. Internationalization | |
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| The Bretton Woods Institutions | |
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| The World Trade Organization | |
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| Summary Points | |
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| Big Ideas to Remember | |
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| Globalization | |
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| Efficient Allocation | |
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| Sustainable Scale | |
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| Just Distribution | |
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| Summary Points | |
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| Big Ideas to Remember | |
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| International Flows and Macroeconomic Policy | |
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| Balance of Payments | |
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| Exchange Rate Regimes | |
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| Capital Mobility and National Policy Levers | |
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| Economic Stability | |
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| Big Ideas to Remember | |
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| Conclusions to Part V | |
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| Policy | |
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| General Policy Design Principles | |
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| The Six Design Principles | |
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| Which Policy Comes First? | |
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| Controlling Throughput | |
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| Price vs. Quantity as the Policy Variable | |
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| Source vs. Sink | |
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| Policy and Property Rights | |
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| Big Ideas to Remember | |
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| Sustainable Scale | |
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| Direct Regulation | |
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| Pigouvian Taxes | |
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| Pigouvian Subsidies | |
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| Tradeable Permits | |
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| Policy in Practice | |
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| Big Ideas to Remember | |
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| Just Distribution | |
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| Caps on Income and Wealth | |
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| Minimum Income | |
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| Distributing Returns from the Factors of Production | |
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| Additional Policies | |
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| Big Ideas to Remember | |
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| Efficient Allocation | |
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| Pricing and Valuing Nonmarket Goods and Services | |
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| Macro-Allocation | |
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| Spatial Aspects of Nonmarket Goods | |
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| Redefining Efficiency | |
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| Big Ideas to Remember | |
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| Looking Ahead | |
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| Glossary | |
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| Suggested Readings | |
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| About the Authors | |
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| Index | |