AHSS*1030 Lecture Notes - Lecture 11: Herman Daly, Ecotourism, Natural Capital
Document Summary
Ecotourism: promote private and public opportunities in areas not typical, ex. mining. Natural resources/ natural capital: produced by earth"s natural process. Human resources/ human capital: ppl"s physical and mental skills. Physical/ manufactured resources: made from natural with human help. Pure free market economic system: buyers and sellers interact with no gov. Market price equilibrium: where supply and demand equal. Marginal cost: increase in total cost of producing one more unit. Gov intervene to help economic stability, national security and public services, manage public land, prevent pollution. Neoclassical economists: see natural resources as part of economic system. Ecological and environmental economist: economic system part of env. and depends on irreplaceable natural resources (herman daly) Better technology: more efficient production using less resources. Scarcity of a resource stimulates research and development for new tech. As pollution is removed, cost is increased. Cost-benefit analysis: making decisions about how to control pollution and manage resources.
