The approach of ecological economics

  title={The approach of ecological economics},
  author={John M. Gowdy and Jon D. Erickson},
  journal={Cambridge Journal of Economics},
This paper discusses the major tenets of ecological economics—including value pluralism, methodological pluralism and multi-criteria policy assessment. Ecological economics offers viable alternatives to the theoretical foundations and policy recommendations of neoclassical welfare economics. A revolution in neoclassical economics is currently taking place, and the core assumptions of welfare economics are being replaced with more realistic models of consumer and firm behaviour. This paper… 

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