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By Costanza, Robert

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1955). Economic growth and income inequality. American Economic Review 45(1): 1–28. , K. Rogoff, et al. (2003). Effects of Financial Globalization on Developing Countries: Some Empirical Evidence. Washington, DC: International Monetary Fund. Skott, P. and P. Auerbach. (1995). Cumulative causation and the ‘new’ theories of economic growth. Journal of Post Keynesian Economics 17(3): 381–402. Stiglitz, J. E. (2002). Globalization and Its Discontents. W. Norton. Wade, R. H. (2004a). Is globalization reducing poverty and inequality?

24 An Introduction to Ecological Economics Second, the size of the service sector relative to the production of goods has limits. Third, many services are fairly throughput-intensive, such as tourism, higher education, and health care. ” This means that developing countries, where growth is needed most, are least likely to be able to afford Brundtland’s “new” growth. 6 The Fragmentation of Economics and the Natural Sciences Before tackling the difficult questions raised in the previous sections, let us first analyze why they are such difficult questions in the first place.

It departed from the Newtonian physics model to develop a worldview that is adapted to deal with complex living systems. It is evolutionary and nonlinear and acknowledges the inability to scale by simple aggregation (Costanza et al. 1993). “Ecology” in this sense is becoming the dominant scientific paradigm, and it is an inherently interdisciplinary, “systems” perspective. Ecological economics represents an attempt to recast economics in this different scientific paradigm, to reintegrate the many academic threads that are needed to weave the whole cloth of sustainability.

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