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In its first edition, this book helped to define the emerging field of ecological economics. This new edition surveys the field today. It incorporates all of the latest research findings and grounds economic inquiry in a more robust understanding of human needs and behavior. Humans and ecological systems, it argues, are inextricably bound together in complex and long-misunderstood ways.



According to ecological economists, conventional economics does not reflect adequately the value of essential factors like clean air and water, species diversity, and social and generational equity. By excluding biophysical and socia

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Book ID Asin: 1597266817
Book Title: Ecological Economics, Second Edition: Principles and Applications
Book Author: Herman E. Daly,Joshua Farley
Book Format and Price:
Book Format Name: Hardcover
Book Format Price: $59.50-$89.00
Book Price: $89.00
Book Category: Books, New, Used & Rental Textbooks, Science & Mathematics and unknown
Book Rating: 46 ratings

Ecological Economics, Second Edition: Principles and Applications by Herman E. Daly,Joshua Farley Book Review

Name: youngeden
Rating: 5.0 out of 5 stars
Title: The Failing of Classical Economics
Date: Reviewed in the United States on December 22, 2022
Review: Even though this is a text book, it is a totally straight forward, readable analysis of the failings of classical economics and market capitalism to account for the overuse and ultimate total depletion of the planet's natural resources. And it is a comprehensive accounting of what we are doing through our obsessive consumerism and our reliance on increasing GNP as our only measure of "well being". With the climate emergency we are facing, Ecological Economics provides a critical contribution to our understanding of how we must drastically change our approach to our relationship with the biosphere.

Name: Chris Kuykendall
Rating: 2.0 out of 5 stars
Title: Saying This is Not There Yet Is Being Way Too Polite
Date: Reviewed in the United States on January 14, 2022
Review: I'm even more disappointed in this book than the other reviewer whose subject line characterized it as "not there yet." I'm a big admirer of the ecological economics outlook, and have about 14 books by, or about (his biography), Herman Daly. In all of them for which he is the sole author, and in his journal articles and posts found on the Internet, he's a model of clarity. So I can only hypothesize that this book perhaps suffers from trying to collaborate with another author.

The introduction is good. But subsequently, it's a mess, in my opinion, from the get-go in the very first sentence of Chapter , which defines economics as "the study of allocation of limited, or scarce, resources among alternative, competing ends." Really? Because, for starters, Daly when he's writing by himself characterizes ECOLOGICAL economics as relating to issues of first scale (trying not to live beyond the planetary means), second distribution (trying to have fairness and fewer poor people), and only third allocation (trying to go efficiently about the directing the traffic of what's produced to consumers, such as via the familiar market system). So the book is supposed to be about ECOLOGICAL economics, but then the sentence leaves out two-thirds of what in other literature are given as its three fundamentals.

Especially starting Chapter 2, I've penned lots of exasperated margins notes with exclamation points indicative of my dismay at particulars that are being said. The best way I can sum up my exasperation is that (1) the book is too much like or tries to be too much like a neoclassical economics textbook, (2) it's a non-scaffolding of a reader's knowledge that doesn't seem to know or come close to knowing how to teach something starting with square one and proceeding to square two and so on, and (3) it uses way too many abstract terms (often without defining them). As regards (3), I was particularly irritated by the discussion of (undefined) "firms" and "households," which are terms drawn from neoclassical economics and which strike me, in what's supposed to be an ecological economics book including a lot about nature and the natural-resource raw materials derived from nature on which humans depend, as instead a book portraying an economics that's only that of a modern American industrial urbanist economy. If a book is about economics generally, it ought to be something that's generalizable to any type of economics. I think forested highlanders in New Guinea have a form of economics, but I don't think they have "firms" as most Americans would understand the term. Or, if a rural Texas farm housewife is a beekeeper and harvests honey for herself and some for friends or to sell, is she a "firm" or a "household" or both? The reason I wonder is because page 24 says firms are production units and households are consuming units, and supposedly that's all there is to it, without any caveats to the distinction. So there are some concepts borrowed from neoclassical economics that ought to be junked rather than borrowed. See criticism (1) earlier in this paragraph.

So, given that the above reflects merely the tip of the iceberg of my dismay, I would not advise buying the book, especially if you're is trying to teach ecological economics, as in a college class. Either pursue do-it-yourself with your own selection of short readings, or wait for somebody else to produce a well laid-out textbook, or maybe use the Daly biography (which sorts out a lot of issues key to the subject of ecological economics).

Name: John
Rating: 5.0 out of 5 stars
Title: An important and vital book
Date: Reviewed in the United States on January 7, 2011
Review: Firstly I must state that this review is my interpretation, and that this book uses the prescribed language of economics . If you learnt your politics and economic understanding of how society works through the corporate media - lets face it many of us do - then this book will bowl you over. If like me you are not familiar with economic jargon it will be a challenge but everything is provided to facilitate your understanding. If you are university educated with a regulation neo-classical economics degree - as the authors are - you would no doubt be familiar with the authors and their considerable output, which includes the first edition of this book. One can understand how human society developed the present economic system with its initial focus on accounting and the appraisal of future investment and production, however this book maintains that the model has been stretched far beyond its theoretical capacities and practical applications; it enables the reader to see why.
The provision of goods and services and the context of fair trading have been divorced from `our economic reason for living' for a mad grab of money making from money itself, the mediaeval salamander eating its own tail as it were. Our religion has become what all religions warn us about; money, and it is the worst kind of religion because it has become an addiction; 'money addiction'. This book is a reference point for the student of the now peak oil, climate change and carbon depositing era. Much of the establishment will not welcome this book, not because of its embracing view, logic or research base but that it challenges their power and money base. However if we are going to provide a meaningful life for our species then we need to reassess how we plan and organise ourselves and the finite resources of our planet. Most of us like to live in pleasant abodes where we direct behaviors that optimise our special space, however this book mounts a compelling case for treating the whole planet as our abode. It points to the obvious really, to respect our humanity and our abode (planet) first. Then use the knowledge that we have accumulated over the ages to harness those values and provide ourselves with a worthwhile reason for living. And yes it can be done and you know what, it wont be humans who will decide, but our planet. Planet states: If you don't respect yourselves and me and stop using an economic system that causes enormous human misery, polluting my atmosphere, earth and water I cannot provide you with a nurturing space and produce the food you require to go on living.
I did miss that there is no introduction to the second edition, it seems the main difference (compared to the first edition) is a completely new chapter on human behavior, challenging and worth while and good reason to buy the new edition (if you have already read the first edition). Pity the publishers did not attend well enough to proof reading the new chapter, however don't let that stop you buying this essential book.