March 1 catch up lecture P2

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University of Toronto St. George
School of Environment
Mairi Mac Donald

Thursday, March 3, 2011 Prof. McDonald ENV222H1S Power: Human-human and Nature-Human Completion of March 1 lecture there is another view: institutions having to do wprivate property institutions: refers to (in simplest sense) rules, norms, crystallized and codified into particular behaviours. Human behaviour is bounded by rules. Also patterns of behaviour = we are able to predict how to behave institutions are used to reduce costs (the costs of doing anything). Transactions costs. We have rules bc they allow us to predict the behaviour of others and thus we are able to predict the transaction costs. Absolutely essential Are institutions (modern day capitalism) sufficiently important to warrant being included in the roster of solutions? the author says they are more important than population prof: the argument that having more people as the solution is absurd the argument that poverty is also a source of environmental degradation is feasible. T
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