1. © 2011 Pearson Education, Inc. These lectures will help you understand: Economics and the environment Classical and neoclassical economics Economic growth, well- being, and sustainability Environmental and ecological economics

2. © 2011 Pearson Education, Inc. Many factors shape worldviews: -Religious and spiritual beliefs -Community experiences -Political ideology -Economics -Vested interest = the strong interest of an individual in the outcome of a decision -gain or loss

3. © 2011 Pearson Education, Inc. Lesson: Footprints & Geography Activator: August 20 th was Earth Overshoot Day - the day humanity uses up all the natural resources the planet can sustainably provide for a given year. “We’ll be in ecological deficit, inflicting more damage on the global ecology than it can naturally repair.” How is this concept similar to how a bank account works?

4. © 2011 Pearson Education, Inc.

5. Two Revolutions Agricultural revolution -Crops, livestock -Stable food supplies Industrial revolution -Urbanized society powered by fossil fuels (oil, gas, coal) -Sanitation and medicines -Pesticides and fertilizers

6. © 2011 Pearson Education, Inc. Population & Consumption Population growth amplifies all human impacts Resource consumption has risen faster than population -Rising affluence amplifies our demands on the environment The 20 wealthiest nations have 55 times the income of the 20 poorest nations -Three times the gap that existed 40 years ago

7. © 2011 Pearson Education, Inc. Ecological footprints are not all equal Not everyone benefits equally from rising affluence -“the west and the rest” The ecological footprints of countries vary greatly -The U.S. footprint is much greater than the world’s average -In the U.S. the richest 1% have 25% of all income

8. © 2011 Pearson Education, Inc. Calculating your Footprint http://footprintnetwork.org/en/index.php/GFN/page/calcu lators/http://footprintnetwork.org/en/index.php/GFN/page/calcu lators/ How many planets do you use? Results tomorrow.

9. © 2011 Pearson Education, Inc. Discussion: Jamestown Societies can succeed or fail depending on how they interact with the environment -Along with how they respond to problems -Where did Jamestown succeed and how? -What was the legacy of their footprint on America? How does resource consumption and population growth impact today’s global society?

10. © 2011 Pearson Education, Inc. Activator: In John We Trust Commitment to sustainability is a commitment to a certain vision of how it is that we ought to live within the world — how it is that humans ought to interact with one another and the non-human world.”

11. © 2011 Pearson Education, Inc. Updates: Takehome quest due Tuesday September 8 th Reading: Chapter 24 (skim as needed); 6 -Gallup economic growth for tomorrow Enviro update from FERN network: As the USDA prepares to announce another near-record harvest, farmers in the upper Midwest can breathe a sign of relief that plenty of train cars will be available to ship their grains to market, says the AP. Slackening demand for oil and track upgrades have relieved national backlog of shipping by rail

12. © 2011 Pearson Education, Inc. Yali’s Question: Cargo and John Frum "Why is it that you white people developed so much cargo and brought it to New Guinea, but we black people had little cargo of our own?" How did our economies ever become so different: -Race? Geography? Destiny… Who is John Frum? Explain how the cult that surrounds him operates. Discuss Chief Isaac’s insights on American life after his trip to the United States. According to him are we any better off than his village is? What does he want and why?

13. © 2011 Pearson Education, Inc. Lesson: Consumer Culture Friction occurs between ethical and economic impulses Is there a trade-off between economics and the environment? –Critics say protection costs too much money, interferes with progress, or causes job loses –Can environmental protection is good for the economy? Traditional economic thought underestimates contributions of the environment to the economy -Values shape human behavior

14. © 2011 Pearson Education, Inc. What do we sacralize and objectify? Some sacred things have become profane, and some profane things have become sacred. -Desacralization occurs when a sacred item or symbol is removed from its special place or is repurposed, becoming profane as a result. -Example: nature, -Sacralization occurs when ordinary objects, events, and even people, take on sacred meaning to a culture or to specific groups within a culture. -Examples: Super Bowl, or Elvis. Objectification occurs when sacred qualities are attributed to mundane objects. -set of objects.

15. © 2011 Pearson Education, Inc. From Subsistence to Exchange The act of consuming expresses (consciously or unconsciously) a wider set of cultural and ideological systems. Historically, people consumed what they produced -Homes built of local materials -Clothes made from locally produced materials -Food mainly grown in the local area Now most people in this country and many people elsewhere purchase what they consume

16. © 2011 Pearson Education, Inc. Commodification Consumer culture is based on a constant expansion of demand. The rise of advertising, automobiles, renting/housing  urban development, food production and consumer goods grew exponentially after WWII. TV has had a tremendous recent influence Globalization and its effects -How are we more alike? Integrated? -How do we continue to be different? Fragmented?

17. © 2011 Pearson Education, Inc. Commodification in a Free Market Economy Western capitalist economies are fueled by insatiable desire to produce more wealth, acquire more power and consume more goods. -access to goods is limited only by the consumer’s ability to pay for them -consuming within a free market place is about personal choice…

18. © 2011 Pearson Education, Inc. If consuming requires making individual choices … Is consumption an expression of personal freedom and individualism? Or is it a manipulation of needs and wants by dominant institutions?

19. © 2011 Pearson Education, Inc. Theodor Adorno (1903-1969) The Frankfurt School Adorno believed that consumption was being used as a vehicle for pacification, coercion and manipulation of the masses

20. © 2011 Pearson Education, Inc. A key feature of the culture industry’s products is standardization coupled with a pseudo-individualization

21. © 2011 Pearson Education, Inc. The culture industry makes people aspire to the false fulfillment of wish dreams such as wealth, adventure, passion, love, power and sensationalism

22. © 2011 Pearson Education, Inc.

23. Updates: Takehome quest due Tuesday September 8 th Reading: chapter 6 -LED article for tomorrow Enviro update from The Ecologist: Already 60% of seabird species have plastic in their guts, often as much as 8% of their body weight. And with ocean plastic increasing exponentially, that figure will rise to 99% by 2050.

24. © 2011 Pearson Education, Inc. Lesson: Growth Activator: “The American economy’s ultimate purpose is to produce more consumer goods.” Arthur Burns, former chair of the federal reserve -What does this mean for the environment? Why do you think Americans consistently prioritize the economy over the environment?

25. © 2011 Pearson Education, Inc. Overview An economy is a social system that converts resources into: –Goods: manufactured materials that are bought –Services: work done for others as a form of business Capitalist market economies function from the buyers and sellers interact to determine prices and production of goods and services.

26. © 2011 Pearson Education, Inc.

27. The complete picture

28. © 2011 Pearson Education, Inc. Measuring economic progress: GDP Gross Domestic Product (GDP) is the total monetary value of goods and services a nation produces –Does not account for nonmarket values –Does not express only desirable economic activity –Pollution, oil spills, disasters, etc. increase GDP

29. © 2011 Pearson Education, Inc. The unemployment rate is updated monthly; decreases when economy is healthy, increases during times of economic loss 5.3% as of early August 2015

30. © 2011 Pearson Education, Inc. Guess which years we had economic recessions?

31. © 2011 Pearson Education, Inc. Producer Price Index (PPI) is a measure of the price of commercial items, such as farm products and industrial products for making goods. Leading indicator of inflation.

32. © 2011 Pearson Education, Inc. Consumer Price Index (CPI) is a measure of the price of a basket of goods and services, increases indicate rising inflation -Rises seasonally for services like medical care, energy and food. -All items +0.2% since July 2014

33. © 2011 Pearson Education, Inc. The growth paradigm Curbing economic growth is generally met with opposition. -friction emerges where industry/business interests collide with regulation that restrains business practices. Economists and many environmentalists generally agree that growth of a kind is good to a greater or lesser degree -unsustainable exploitation is what is being challenged -climate change begs the question of whether the growth paradigm as we know it is at an end

34. © 2011 Pearson Education, Inc. Ecological footprints Affluence increases consumption An ecological footprint is the environmental impact of a person or population: -The area of biologically productive land + water -To supply raw resources and dispose/recycle waste If everyone consumed the amount of resources the U.S. does, we would need 4.5 Earths!

35. © 2011 Pearson Education, Inc. Overview: The “footprint” we leave Overshoot: humans have surpassed the Earth’s capacity to support us

36. © 2011 Pearson Education, Inc.

38. Updates: Takehome quest due Tuesday September 8 th Reading: chapter 6 -Josh Farley for tomorrow Enviro update from Nature: The world has 3.04 TRILLION trees, much higher than the previous estimate of 400 billion! The bad news: this is the lowest number human civilization has ever seen; there are 46% fewer trees than before humans began deforesting the planet.

39. © 2011 Pearson Education, Inc. Lesson: Growth Activator: Are goods like light bulbs substitutable (fungible) for LEDs? What determines whether they are or not? Discuss the rebound effect for lighting solutions. Why is changing your lightbulb not going to curb electricity demand and help mitigate climate change in the long term?

40. © 2011 Pearson Education, Inc. Lesson: Economics (as usual) Neoclassical economics has 3 assumptions: -People have rational preferences between outcomes that can be identified and associated with values. -Individuals maximize utility and firms maximize profits. -People act independently on the basis of full and relevant information. Market prices reflect supply vs. demand The “right” quantities of a product are produced –“Optimal” levels of pollution, resource use

41. © 2011 Pearson Education, Inc.

42. Commodities and price Commodities are raw materials like oil or ag products like corn that can be bought or sold. -traded on exchanges, so price is not set one person or the gov’t -strongly influenced by supply/demand and economic growth -traded using futures contracts that obligate a holder to buy or sell at a predetermined future price. -current events affect future prices, add volatility If the supply of oil increases, the price of one barrel of oil will decrease and vice versa

43. © 2011 Pearson Education, Inc. Bloomberg: “Citi's Ed Morse wrote in a note to clients on Monday, the recent moves look to be, ‘drive more by sentiment than reality.’ In Morse's view, nothing has changed the outlook for oil, which he expects to stay at a low price for the next several years as the market deals with oversupply.”

44. © 2011 Pearson Education, Inc.

46. Discussion: If oil-producing countries/companies began cutting back on oil production, how might a dropping supply affect consumer demand in the future? How might this affect commodity price over time? -Will this help or hurt businesses dependent on oil including oil companies themselves?

47. © 2011 Pearson Education, Inc.

48. Updates: Takehome quest due Tuesday September 8 th Reading: chapter 6 -Robert Costanza for Tuesday Enviro update from NOAA:

49. © 2011 Pearson Education, Inc. Lesson: Paradigms Activator: -What's wrong with econ 101? -What’s this new economics paradigm all about?

50. © 2011 Pearson Education, Inc. Neoclassical economics can be used as a tool to build wealth….

51. © 2011 Pearson Education, Inc. “It’s the economy, stupid!” …and jobs, but has helped to create much of the environmental problems we will discuss in this course

52. © 2011 Pearson Education, Inc. “It’s a trap!” When demand relaxes prices fall, but the market finds a way to correct itself. -Relaxing prices usually correct oversupply overtime as consumers “burn up” the excess oil at low prices. -Fuel-efficiency can prolong price recovery. There is no “no-oil choice” because oil is not fungible (substitutable) in this economy in this equation, just less or more of it as prices fluctuate -Fungibility in economics is a myth just like the concept of supply is a mythology of sorts

53. © 2011 Pearson Education, Inc. Myth: resources are infinite/substitutable Resources are not substitutable and/or interchangeable: -some consumer goods and services are when the price appeals to consumer habits and wages create the income necessary. -But commodities are resources too and there is no replacing water and corn during a drought. -A replacement cannot be found for virtually every ecosystem service -Infinitely abundant, resilient, and substitutable? -“free gifts of nature” more like “disaster capitalism”

54. © 2011 Pearson Education, Inc.

55. Only the buyer and seller experience costs and benefits… -ignores social, environmental, or economic costs of pollution and degradation -externalities are costs or benefits involving people other than the buyer or seller -external costs are borne by someone not involved in a transaction Myth: costs and benefits are internal

56. © 2011 Pearson Education, Inc. National Geographic, June, 2004, p. 97 Price varies by location and reflects the cost of turning crude into gasoline and so do the externalities Burning gas contributes to respiratory problems, global warming, and oil spills/clean up Who payed for any of this at the pump?

57. © 2011 Pearson Education, Inc.

58. Updates: Takehome quest due Reading: chapter 6 Enviro update from Inside Climate News: The California Assembly voted 47 to 30 on Wednesday to mandate the state's two largest pension funds divest from coal assets. It now heads to Gov. Jerry Brown's office for approval. The Senate voted in favor of the measure in June.

59. © 2011 Pearson Education, Inc. Costanza Discussion What is a “negative externality?” Why are humans cutting down rainforests instead of investors lining up to buy them for preservation instead? Should nature be reduced to a cost-benefit analysis by putting prices on it? Why or why not?

60. © 2011 Pearson Education, Inc. Myth: Markets cannot fail Market failure occurs when markets ignore: -The environment’s positive impacts -The negative effects of activities on the environment or people (external costs) Government intervention counters market failure -Laws and regulations -Green taxes penalize harmful activities -Economic incentives to promote fairness, conservation, and sustainability (e.g., pollution permits)

61. © 2011 Pearson Education, Inc. The market ignores/undervalues ecosystems Nonmarket values = values not included in the price of a good or service (e.g., ecological, cultural, spiritual)

62. © 2011 Pearson Education, Inc. Cost-benefit analysis - costs of a proposed action are compared to benefits that result from the action –If benefits > costs: pursue the action –If solving an environmental problem is expensive, how do we solve it in today’s free-market economy?

63. © 2011 Pearson Education, Inc. The market can counter market failure Ecolabeling = tells consumers which brands use environmentally benign processes -A powerful incentive for businesses to change -Dolphin-safe tuna, organic food Socially responsible investing in sustainable companies -$2.7 trillion in 2007

64. © 2011 Pearson Education, Inc. Governments intervene in a market economy Even in capitalist market economies, governments intervene to: –Eliminate unfair advantages held by single buyers or sellers –Provide social services (national defense, medical care, education) –Provide safety nets for elderly, disaster victims, etc. –Manage the commons –Mitigate pollution and other threats to health and quality of life

65. © 2011 Pearson Education, Inc. The economy exists within the environment Economies receive inputs (resources) –Process them  “stuff” –Discharge outputs (waste) Traditional economics –Ignores the environment –Resources “limitless” –Wastes are absorbed at no cost

66. © 2011 Pearson Education, Inc. Ethos for the 21 st century Environmental ethics applies ethical standards to relationships between human and environment -Can we include this in a market? -Whose ethics? Should we save resources for future generations? Is it OK for some communities to be exposed to more pollution? Should humans drive other species to extinction? When is it OK to destroy a forest to create jobs?

67. © 2011 Pearson Education, Inc.

69. Updates: Reading: chapter 6 -Neoliberalism for tomorrow Enviro update from GRL/Nature Communications: A pair of studies suggest the possibility of 7% of salinity off of the coast of Greenland, likely disrupting global ocean circulation…similar changes in ocean circulation helped lead, for example, to an 18-degree Fahrenheit drop in Greenland over a period of less than ten years.

70. © 2011 Pearson Education, Inc. Lesson: Growth and discounts Growth is used to measure economic progress: -All economic growth is seen as good and necessary -Growth is always good news The United States has a “more and bigger” attitude -Consumed twice as much as generations 50 years ago! The global economic value of all ecosystem services equals $46 trillion -More than the GDP of all nations combined Protecting land gives 100 times more value than converting it to some other use

71. © 2011 Pearson Education, Inc. The global value of all ecosystem services

72. © 2011 Pearson Education, Inc. A future event counts less than a present one Discounting weighs short-term costs and benefits as more important than long-term costs and benefits -Present conditions are more important than future ones -“It will be cheaper to address sea level rises in 40 years because flooding already happened.” Policymakers ignore long-term consequences of actions -Puts costs of degradation, resource depletion, pollution on to future generations Myth: discounted long-term effects

73. © 2011 Pearson Education, Inc. not all costs and benefits can be identified or defined: –hard to assess the true cost of strip-mining Monetary benefits are overrepresented –Bias toward development

74. © 2011 Pearson Education, Inc. Contingent valuation uses surveys to determine how much people are willing to pay to protect or restore a resource -Measures expressed preferences -people don’t really pay -overinflate values Revealed preferences are revealed by time, money, effort people spend -Measures actual costs of restoration, cleanup, etc. How much is the environment worth?

75. © 2011 Pearson Education, Inc. Is the growth paradigm good for us?

76. © 2011 Pearson Education, Inc. Myth: growth is good Economic growth is measured an increase in an economy’s production and consumption of new goods Promoting economic growth creates opportunities for poor to become wealthier (???) -Progress is measured by growth… Economic activity and true wealth are not the same: -Perceived/planned obsolescence of products -material goods do not always bring contentment -Runaway growth can destroy our economic system

77. © 2011 Pearson Education, Inc. Can growth go on forever? Economic growth comes from: -Increased inputs (labor, natural resources) -Economic development = improved efficiency of production (technology, ideas, equipment) Many economists believe technology can solve anything -Do you agree? Can growth go on forever?

78. © 2011 Pearson Education, Inc.

80. More green accounting indicators Net Economic Welfare (NEW) = adjusts GDP by adding the value of leisure time and personal transactions -deducts environmental degradation Human Development Index = assesses a nation’s standard of living, life expectancy, and education Sustainable Economic Welfare (ISEW) = based on income, wealth distribution, resource depletion All are difficult to assess, hard to employ

81. © 2011 Pearson Education, Inc. More green accounting indicators Net Economic Welfare (NEW) = adjusts GDP by adding the value of leisure time and personal transactions -deducts environmental degradation Human Development Index = assesses a nation’s standard of living, life expectancy, and education Sustainable Economic Welfare (ISEW) = based on income, wealth distribution, resource depletion All are difficult to assess, hard to employ

82. © 2011 Pearson Education, Inc.

83. Updates: Reading: chapter 6 -Ownership for Tuesday: Web -Two American families: Web Enviro update: Oil 1…CA 0: CA Assembly democrats defeated a key piece of climate legislation that would have cut oil/diesel/gasoline consumption in CA by 50% in 15 years.

84. © 2011 Pearson Education, Inc. Neoliberalism: Discuss what you learned about neoliberalism after reading the article List: 5 important things

85. © 2011 Pearson Education, Inc. Neoliberalism: The Washington Consensus Central tenet: Only in societies where markets are free of state interference can competitive entrepreneurs maximize economic growth for benefit of themselves and the rest of society Theory favored private rather than state solutions -Contrast with Keynesian approach (popular until 1970s) that advocated state intervention in the market Structural adjustments: -Massive cuts to social spending, fiscal austerity -Privatization of social programs and gov’t functions -Market liberalization (major reductions in regulation)

86. © 2011 Pearson Education, Inc.

97. Genuine Progress Indicator (GPI) = differentiates between desirable and undesirable economic activity -Positive contributions (e.g., volunteer work) not paid for with money are added to economic activity -Negative impacts (crime, pollution) are subtracted

98. © 2011 Pearson Education, Inc. In the United States, GDP has risen greatly, but not GPI

99. © 2011 Pearson Education, Inc. A steady-state economy Herman Daly: a steady state will not evolve on its own –fundamentally change our economics –does not necessarily mean a lower quality of life –Technology and behavior will enhance sustainability

100. © 2011 Pearson Education, Inc.

101. Things to consider: Main Street Unemployment remains persistently high -Distraction from environmental issues -Limits consumer participation Debt remains persistently high Stagnant wages affect price signals (demand) -How can you demonstrate a demand if you cannot pay for it? Federal/state intervention might result in increased taxes

102. © 2011 Pearson Education, Inc.

105. Environmental justice (EJ) The poor and minorities are exposed to more pollution, hazards, and environmental degradation North Carolina wanted to put a toxic waste site in the county with the highest percentage of African Americans

106. © 2011 Pearson Education, Inc. Environmental justice and Native Americans From 1948 to the 1960s, neither the U.S. government nor industry provided Navajo miners with information or protection

107. © 2011 Pearson Education, Inc. Significant inequities still remain Significant inequities remain despite progress toward racial equality –Economic gaps between rich and poor have widened –Minorities and the poor still suffer substandard environmental conditions Poor Latino farm workers in California suffer from unregulated air pollution (dairy and pesticide emissions) –Organized groups convinced regulators to enforce the Clean Air Act and state legislatures to pass new laws

108. © 2011 Pearson Education, Inc. Environmental justice and Hurricane Katrina People most affected by the hurricane and its aftermath were poor and nonwhite

109. © 2011 Pearson Education, Inc.

110. Environmental justice: an international issue Wealthy nations impose pollution on poorer nations -Hazardous waste is expensive to dispose of Companies pay poor nations to take the waste -It is dumped illegally -It may be falsely labeled as harmless or beneficial -Workers are uninformed or unprotected The Basel Convention prohibits international export of waste -But illegal trade and dumping continue -The United States has not ratified this treaty

111. © 2011 Pearson Education, Inc.

112. Updates This week: read chapter 6 “In John They Trust” discussion postponed until Thurs. Enviro update: Drought-stricken McAllen, TX recently “recycled” the town Walmart into a public library.

113. © 2011 Pearson Education, Inc. 113 What is Corporate Culture? Culture is the values, norms, guiding beliefs, and understandings that are shared by members of an group -Taught to new members as the correct way to think, feel, and behave Corporate culture is a manifestation of the informally sanctioned corporate attitude. the behavior of people in a business and the meanings attached to their actions -“Organizational DNA” or the “Organizational Soul.” -It starts with the owner(s)/CEO -And the expectations of shareholders of publically traded companies ©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

114. © 2011 Pearson Education, Inc. Levels of Organizational Corporate Culture ©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

115. © 2011 Pearson Education, Inc. Constructive v. Non-Constructive Cultures

116. © 2011 Pearson Education, Inc. 116 Sources of Individual Ethical Principles and Actions ©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

117. © 2011 Pearson Education, Inc. 117 Relationship between the Rule of Law and Ethical Standards ©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

118. © 2011 Pearson Education, Inc. 118 Corporate Social Responsibility (CSR) Does it pay to be good? -Extension of the idea of managerial ethics -Management’s obligation to make choices and take action that positively impact stakeholders -Increase in social responsibility -Customers and public are paying closer attention to what organizations do -Social responsibility can enhance a firm’s reputation ©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

119. © 2011 Pearson Education, Inc. Greenwashing Walmart, BP, McDonald’s, Starbucks, Intel, Ford, Dow, etc…. Greenwashing: consumers are misled into thinking companies are acting more sustainably than they are -“Pure” bottled water may not be safer or better Corporate actions hinge on consumer behavior -People must support sustainable economics

120. © 2011 Pearson Education, Inc. Some corporations are responding to concerns Industries, businesses, and corporations make money by “greening” their operations -Ben & Jerry’s, Patagonia Many have failed to respond -Corporate culture (execs) -Shareholder interest – maximizing profit Rex Tillerson: “What good is it to save the planet if humanity suffers?”

121. © 2011 Pearson Education, Inc. Thoughts on Goldman Sachs -What is a 1/10 th of 1 cent worth to you v. Goldman Sachs? -What makes Goldman able to behave how it does when it markets a commodity like aluminum? -Why is the price of aluminum a “totally artificial cost?” -Are banks like Goldman that trade commodity assets like aluminum acting to “produce benefits to the public, increase competition, etc.” according to the Fed? Why or why not? -Do you think the copper-exchange funds backed by Goldman will track the price of copper or “propel” it?

122. © 2011 Pearson Education, Inc.

123. Updates This week: read chapter 6 Herman Daly, Joshua Farley discussion tomorrow Enviro update: State of the Bay Underwater grasses was up 24 percent, to 59,927 acres, American shad rose to 41 percent of the program's goal, abundance of juvenile striped bass went up significantly and is close to the historic levels for Virginia and Maryland…spawning-age female blue crabs fell 53 percent between 2013 and 2014, to 68.5 million. (below the target of 215 million) "depleted state"

124. © 2011 Pearson Education, Inc. Check-in Activator: Thoughts on John Frum: -“John promised you much cargo more than 60 years ago, and none has come…so why do you keep faith with him? Why do you still believe in him?” -Well, why do they? -Are there any parallels between modern markets and cargo cults? Why or why not?

125. © 2011 Pearson Education, Inc.

126. Three ethical perspectives Anthropocentrism = only humans have intrinsic value Biocentrism = some nonhuman life has intrinsic value Ecocentrism = whole ecological systems have value -A holistic perspective that preserves connections

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128. Updates: Article for Tuesday: Gridlock Chapter 7 Blog posted this Sunday 11:59 PM -Choose any debate from Unit 1 page

129. © 2011 Pearson Education, Inc. Updates Next week: read chapter 7 Robert Costanza/market failure discussion Monday Footprint calculator? Enviro update: POTUS/Maine Obama’s national security strategy lists climate change as one of the top threats facing the U.S., report commissioned for Maine fisheries focuses on meeting the urgent need to protect Maine’s fisheries from rapid ocean acidification.

130. © 2011 Pearson Education, Inc. Bird of the Day: Red-bellied Woodpecker

131. © 2011 Pearson Education, Inc. We value things in two ways Instrumental (utilitarian) value: valuing something for its pragmatic benefits by using it -Animals are valuable because we can eat them -Aluminum is worth such a price… Intrinsic (inherent) value: valuing something for its own sake because it has a right to exist -Animals are valuable because they live their own lives How we value something affects how we treat it; morally and economically

132. © 2011 Pearson Education, Inc. Can we (re)make an economy that will reflect environmental stewardship?

133. © 2011 Pearson Education, Inc.

135. Herman Daly discussion -Explain what an IMF/World Bank “structural adjustment” program is. -What is the pre-analytic vision? -Why do you think economists resist viewing the economy as part of a larger global ecosystem? -Herman says asking “how do we stop growing?” is a very threatening question. Do you agree? Why or why not?

136. © 2011 Pearson Education, Inc. Updates This week: read chapter 7 Lobbying discussion tuesday Enviro update: public health A USA Today analysis found just 13 states met federal standards for collecting school-level immunization records. In those states — which included California — vaccination rates fell below the minimum standard of 90% at nearly one in seven schools. "Where [data] don't exist, I consider it a basic failure of public health," said one expert.

137. © 2011 Pearson Education, Inc. Other types of economies Environmental economics = unsustainable economies have high population growth and inefficient resource use -Modify current economics to increase efficiency -Calls for reform Ecological economics = civilizations cannot overcome environmental limitations -Endless economic growth is not possible -Calls for (r)evolution

138. © 2011 Pearson Education, Inc. Conclusion Recent developments have brought economic approaches to bear on environmental protection and conservation -Corporate sustainability, ecolabeling, new ways of measuring growth, valuation of ecosystem services Environmental ethics has expanded people’s ethical considerations -Environmental justice Economic welfare can be enhanced without growth -Increasing economic health and environmental quality

139. © 2011 Pearson Education, Inc.

140. Updates Quiz Today Blog due Sunday, midnight - respond to all op-eds Chapter 6 Reading 1 st Test 9/19

141. © 2011 Pearson Education, Inc. Updates Blog due Sunday, midnight - For/Against (choose one) Chapter 7 Reading Case Study due Thursday 1 st Test (rescheduled) Friday, 9/21

142. © 2011 Pearson Education, Inc. Lesson: Economics for the Environment John Stuart Mill: As resources became harder to find, economic growth slows and stabilizes –Individuals and societies exist on steady flows of natural resources… –do they/will they?

143. © 2011 Pearson Education, Inc. Check out: Could solving our environmental problems solve any of our economic problems as well?

144. © 2011 Pearson Education, Inc. QUESTION: Review An anthropocentric worldview would consider the impact of an action on: a)Humans only b)Animals only c)Plants only d)All living things e)All nonliving things

145. © 2011 Pearson Education, Inc. QUESTION: Review Which ethic holds that unspoiled nature should be protected for its own intrinsic value? a)Land ethic b)Preservation ethic c)Conservation ethic d)Deep ecology e)Biocentrism

146. © 2011 Pearson Education, Inc. QUESTION: Review Which of the following is an ecosystem service? a)Water purification in wetlands b)Climate regulation in the atmosphere c)Nutrient cycling in ecosystems d)Waste treatment by bacteria e)All of the above are ecosystem services

147. © 2011 Pearson Education, Inc. QUESTION: Review Which is NOT an assumption of neoclassical economics that can lead to environmental degradation? a)Resources are unlimited b)Long-term effects are downplayed c)Costs and benefits are experienced by buyers, sellers, and the public d)Growth is good

148. © 2011 Pearson Education, Inc. QUESTION: Review Which of the following statements would be spoken by an environmental economist? a)The current economic system is working well. b)The current economic system simply needs to be fine-tuned. c)The current economic system is broken and a new one needs to be developed. d)Economic systems never work.

149. © 2011 Pearson Education, Inc. QUESTION: Interpreting Graphs and Data Market equilibrium, which sets the price of a product, is reached: a)When supply exceeds demand b)When demand exceeds supply c)By demand when quantity is low, and supply when quantity is high d)When supply equals demand

150. © 2011 Pearson Education, Inc. QUESTION: Interpreting Graphs and Data Which conclusion can you draw from this graph? a) GDP has not increased since 1950. b) Despite spending more money, our lives are not much better. c)We are spending less money, and our lives are much better. d) The GPI is not as accurate as GDP.

151. © 2011 Pearson Education, Inc. QUESTION: Viewpoints Think of an issue in your community that could pit environmentalists against economic development. What do you think should prevail: environmental protection or economic development? a) Economic growth; we need the jobs b) Environmental protection; we need the environment c)Both; a compromise must be reached d)Whatever costs the taxpayers the least

152. © 2011 Pearson Education, Inc. QUESTION: Viewpoints What entities do you include in your domain of ethical concern? a)Humans only b)Humans and pets c)Humans, pets, and other animals d)Humans, pets, other animals, and nature