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Uneconomic growth is economic growth that reflects or creates a decline in the quality of life. The concept is used in human development theory, welfare theory, and ecological economics. It is usually attributed to ecological economist Herman Daly, though other theorists may also be credited for the incipient idea, According to Daly, "uneconomic growth occurs when increases in production come at an expense in resources and well-being that is worth more than the items made." The cost, or decline in well-being, associated with extended economic growth is argued to arise as a result of "the social and environmental sacrifices made necessary by that growing encroachment on the eco-system."
Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially. By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment. One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that physical (human-made) capital can substitute for natural capital.
Overconsumption describes a situation where a consumer overuses their available goods and services to where they can't, or don't want to, replenish or reuse them. In microeconomics, this may be described as the point where the marginal cost of a consumer is greater than their marginal utility. The term overconsumption is quite controversial in use and does not necessarily have a single unifying definition. When used to refer to natural resources to the point where the environment is negatively affected, it is synonymous with the term overexploitation. However, when used in the broader economic sense, overconsumption can refer to all types of goods and services, including manmade ones, e.g. "the overconsumption of alcohol can lead to alcohol poisoning". Overconsumption is driven by several factors of the current global economy, including forces like consumerism, planned obsolescence, economic materialism, and other unsustainable business models and can be contrasted with sustainable consumption.
The green gross domestic product is an index of economic growth with the environmental consequences of that growth factored into a country's conventional GDP. Green GDP monetizes the loss of biodiversity, and accounts for costs caused by climate change. Some environmental experts prefer physical indicators, which may be aggregated to indices such as the "Sustainable Development Index".
Genuine progress indicator (GPI) is a metric that has been suggested to replace, or supplement, gross domestic product (GDP). The GPI is designed to take fuller account of the well-being of a nation, only a part of which pertains to the size of the nation's economy, by incorporating environmental and social factors which are not measured by GDP. For instance, some models of GPI decrease in value when the poverty rate increases. The GPI separates the concept of societal progress from economic growth.
A green economy is an economy that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment. It is closely related with ecological economics, but has a more politically applied focus. The 2011 UNEP Green Economy Report argues "that to be green, an economy must not only be efficient, but also fair. Fairness implies recognizing global and country level equity dimensions, particularly in assuring a Just Transition to an economy that is low-carbon, resource efficient, and socially inclusive."
A steady-state economy is an economy made up of a constant stock of physical wealth (capital) and a constant population size. In effect, such an economy does not grow in the course of time. The term usually refers to the national economy of a particular country, but it is also applicable to the economic system of a city, a region, or the entire world. Early in the history of economic thought, classical economist Adam Smith of the 18th century developed the concept of a stationary state of an economy: Smith believed that any national economy in the world would sooner or later settle in a final state of stationarity.
Product-service systems (PSS) are business models that provide for cohesive delivery of products and services. PSS models are emerging as a means to enable collaborative consumption of both products and services, with the aim of pro-environmental outcomes.
Sustainable consumption is the use of products and services in ways that minimizes impacts on the environment. Sustainable consumption is done in a way that the needs are met for present humans but also for future generations. Sustainable consumption is often paralleled with sustainable production; consumption refers to use and disposal not just by individuals and households, but also by governments, businesses, and other organizations. Sustainable consumption is closely related to sustainable production and sustainable lifestyles. "A sustainable lifestyle minimizes ecological impacts while enabling a flourishing life for individuals, households, communities, and beyond. It is the product of individual and collective decisions about aspirations and about satisfying needs and adopting practices, which are in turn conditioned, facilitated, and constrained by societal norms, political institutions, public policies, infrastructures, markets, and culture."
Degrowth is an academic and social movement critical of the concept of growth in gross domestic product as a measure of human and economic development. Degrowth theory is based on ideas and research from a multitude of disciplines such as economics, economic anthropology, ecological economics, environmental sciences and development studies. It argues that the unitary focus of modern capitalism on growth, in terms of monetary value of aggregate goods and services, causes widespread ecological damage and is not necessary for the further increase of human living standards. Degrowth theory has been met with both academic acclaim and considerable criticism.
Sustainability is a social goal for people to co-exist on Earth over a long time. Definitions of this term are disputed and have varied with literature, context, and time. Experts often describe sustainability as having three dimensions : environmental, economic, and social, and many publications emphasize the environmental dimension. In everyday use, sustainability often focuses on countering major environmental problems, including climate change, loss of biodiversity, loss of ecosystem services, land degradation, and air and water pollution. The idea of sustainability can guide decisions at the global, national, and individual levels. A related concept is sustainable development, and the terms are often used to mean the same thing. UNESCO distinguishes the two like this: "Sustainability is often thought of as a long-term goal, while sustainable development refers to the many processes and pathways to achieve it."
Green growth is a concept in economic theory and policymaking used to describe paths of economic growth that are environmentally sustainable. It is based on the understanding that as long as economic growth remains a predominant goal, a decoupling of economic growth from resource use and adverse environmental impacts is required. As such, green growth is closely related to the concepts of green economy and low-carbon or sustainable development. A main driver for green growth is the transition towards sustainable energy systems. Advocates of green growth policies argue that well-implemented green policies can create opportunities for employment in sectors such as renewable energy, green agriculture, or sustainable forestry.
The economics of climate change mitigation is a contentious part of climate change mitigation – action aimed to limit the dangerous socio-economic and environmental consequences of climate change.
Conspicuous conservation describes consumers who purchase environmentally friendly products in order to signal a higher social status.
Post-growth is a stance on economic growth concerning the limits-to-growth dilemma — recognition that, on a planet of finite material resources, extractive economies and populations cannot grow infinitely. The term "post-growth" acknowledges that economic growth can generate beneficial effects up to a point, but beyond that point it is necessary to look for other indicators and techniques to increase human wellbeing.
Jeroen Cornelis Johannes Maria van den Bergh is an environmental economist of Dutch origin. As of January 2015 he was ICREA Research Professor at Universitat Autònoma de Barcelona and deputy director for Research of its Institute of Environmental Science and Technology, and professor of Environmental and Resource Economics at VU University Amsterdam.
Corporate environmental responsibility (CER) refers to a company's duties to abstain from damaging natural environments. The term derives from corporate social responsibility (CSR).
Giorgos Kallis is an ecological economist from Greece. He is an ICREA Research Professor at ICTA - Universitat Autònoma de Barcelona, where he teaches political ecology. He is one of the principal advocates of the theory of degrowth.
Growth imperative is a term in economic theory regarding a possible necessity of economic growth. On the micro level, it describes mechanisms that force firms or consumers (households) to increase revenues or consumption to not endanger their income. On the macro level, a political growth imperative exists if economic growth is necessary to avoid economic and social instability or to retain democratic legitimacy, so that other political goals such as climate change mitigation or a reduction of inequality are subordinated to growth policies.
References
- ↑ van den Bergh, Jeroen C.J.M. (March 2011). "Environment versus growth — A criticism of 'degrowth' and a plea for 'a-growth'". Ecological Economics. 70 (5): 881–890. doi:10.1016/j.ecolecon.2010.09.035.
- 1 2 Savin, Ivan; King, Lewis (20 September 2023). "Idea of green growth losing traction among climate policy researchers, survey of nearly 800 academics reveals". The Conversation.
- ↑ Kalimeris, Panos; Richardson, Clive; Bithas, Kostas (March 2014). "A meta-analysis investigation of the direction of the energy-GDP causal relationship: implications for the growth-degrowth dialogue". Journal of Cleaner Production. 67: 1–13. doi:10.1016/j.jclepro.2013.12.040.
- 1 2 "The new theory of economic 'agrowth' contributes to the viability of climate policies". ScienceDaily (Press release). Universitat Autònoma de Barcelona. 10 March 2017.
- ↑ van den Bergh, Jeroen C. J. M. (February 2017). "A third option for climate policy within potential limits to growth". Nature Climate Change. 7 (2): 107–112. Bibcode:2017NatCC...7..107V. doi:10.1038/nclimate3113. hdl: 1871.1/55d55cfa-2617-4e8a-b21c-fbc02ee19eea .
- ↑ Lehmann, Cathérine; Delbard, Olivier; Lange, Steffen (February 2022). "Green growth, a-growth or degrowth? Investigating the attitudes of environmental protection specialists at the German Environment Agency". Journal of Cleaner Production. 336: 130306. doi:10.1016/j.jclepro.2021.130306. S2CID 245721607.
