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In a world of growing environmental risks and ecological scarcities, ensuring a safe Anthropocene for humankind is essential. This introductory chapter outlines five key principles of an "economics" for a fragile planet: ending the underpricing of nature; fostering collective action; accepting absolute limits; attaining sustainability; and promoting inclusivity. Each of these five principles is briefly outlined in this introductory chapter, which are the building blocks for new thinking on economics and policies for an increasingly fragile world. The aim of this book is to explain what this “economics for a fragile planet” might look like. This chapter ends with a brief overview of how each subsequent chapter tackles this challenge.
Chapter 8 elaborates further on the public policies needed for “greening” economic activity and promoting better stewardship of the environment. The focus is primarily on strategies that governments might adopt to achieve economy-wide green transformation for more efficient, sustainable and inclusive development. The chapter explores what these short- and long-term policy efforts will look like, providing examples from both major economies and low- and middle-income countries. At the center is ending the underpricing of nature to unleash the economic potential of green developments for generating economy-wide innovation and prosperity, and more equitable income and wealth distribution.
In a world of growing environmental risks and ecological scarcities, ensuring a safe Anthropocene for humankind is essential. Managing an increasingly "fragile" planet requires new thinking on markets, institutions and governance built on five principles: ending the underpricing of nature, fostering collective action, accepting absolute limits, attaining sustainability, and promoting inclusivity. Rethinking economics and policies in this way can help to overcome the global challenges posed by climate change, biodiversity loss, freshwater scarcity, and deteriorating marine and coastal habitats. It requires decoupling wealth creation from environmental degradation through business, policy and financial actions aimed at better stewardship of the biosphere. In this book, renowned environmental economist Edward Barbier offers a blueprint for a greener and more inclusive economy, and outlines the steps we must take now to build a post-COVID world that limits environmental threats while sustaining per capita welfare.
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