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GEOG 3ER3 (22)
Lecture 7

Lecture 7 & 8.docx

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Department
Geography
Course
GEOG 3ER3
Professor
Maureen Padden
Semester
Winter

Description
Lecture 7 & 8: Natural Capitalism Human Capital:  Intelligence, language and decision making Finance Capital:  Cash, monetary Manufactured Capital:  Machines, and tools Natural Capital:  Living systems, ecosystem services  Eg. Benefits from water purification system Weak Sustainability: - Total capital is constant= manufactured + financial + natural - Use up one type of capital and replace it with another - Eg. Nauru- island in SW pacific  Rich phosphate deposits used for fertilizers  Completely mined out a trust fund was established for future generations  Must now import almost everything – nothing left to trade  Gov’t dipping into that trust fund Strong Sustainability: - Natural capital is kept constant Environmental Sustainability  Physical flow of resources in maintained, not just value of stock  Eg. Fishery levels kept at a level they can replenish themselves Alaska Permanent Fund: Weak sustainability - 1976 est. fund to save portion of revenue from oil sands for future generations - 25% placed in fund Difficulties being efficient and sustainable:  Total amount of resource  Pop. Growth  Discount rate  What will future generations prefer Natural Capitalism Strategies: 1. Radical Resource Productivity  Industrial Revolution  200 workers in 1770 = 1 worker in 1812  Reversing now, Natural capital now becoming scarce  Use what’s scarce more productively  Easy to sell-> translates easily make
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