Nature And Wealth

Nature-centered economics for the age of peak oil

Drawing on historical and contemporary evidence, this book argues that growing environmental degradation and wealth inequality are linked to how nature is exploited to create economic wealth. Ending the under-pricing of natural capital and insufficient human capital accumulation is essential to overcoming structural imbalance in modern economies.

Presents new evidence from more than twenty countries on the role of ecosystems in supporting the livelihoods of the poor.

Drawing on historical and contemporary evidence, this book argues that growing environmental degradation and wealth inequality are linked to how nature is exploited to create economic wealth. Ending the under-pricing of natural capital and insufficient human capital accumulation is essential to overcoming structural imbalance in modern economies.

Hailed as "one of the most eminent environmental historians of the West" by Alan Brinkley in The New York Times Book Review, Donald Worster has been a leader in reshaping the study of American history. Winner of the prestigious Bancroft Prize for his book Dust Bowl, Worster has helped bring humanity's interaction with nature to the forefront of historical thinking. Now, in The Wealth of Nature, he offers a series of thoughtful, eloquent essays which lay out his views on environmental history, tying the study of the past to today's agenda for change. The Wealth of Nature captures the fruit of what Worster calls "my own intellectual turning to the land." History, he writes, represents a dialogue between humanity and nature--though it is usually reported as if it were simple dictation. Worster takes as his point of departure the approach expressed early on by Aldo Leopold, who stresses the importance of nature in determining human history; Leopold pointed out that the spread of bluegrass in Kentucky, for instance, created new pastures and fed the rush of American settlers across the Appalachians, which affected the contest between Britain, France, and the U.S. for control of the area. Worster's own work offers an even more subtly textured understanding, noting in this example, for instance, that bluegrass itself was an import from the Old World which supplanted native vegetation--a form of "environmental imperialism." He ranges across such areas as agriculture, water development, and other questions, examining them as environmental issues, showing how they have affected--and continue to affect--human settlement. Environmental history, he argues, is not simply the history of rural and wilderness areas; cities clearly have a tremendous impact on the land, on which they depend for their existence. He argues for a comprehensive approach to understanding our past as well as our present in environmental terms. "Nostalgia runs all through this society," Worster writes, "fortunately, for it may be our only hope of salvation." These reflective and engaging essays capture the fascination of environmental history--and the beauty of nature lost or endangered--underscoring the importance of intelligent action in the present.

In this hard-hitting book, Nadeau claims that to avoid the prospect of large-scale irreversible damage to the global environment, society has only one option: they must displace neoclassical economic theory with an environmentally responsible economic theory.

Lynn and Vanhanen test the hypothesis on the causal relationship between the average national intelligence (IQ) and the gap between rich and poor countries by empirical evidence. Based on an extensive survey of national IQ tests, the results of their work challenge the previous theories of economic development and provide a new basis to evaluate the prospects of economic development throughout the world. They begin by reviewing and evaluating some major previous theories. The concept of intelligence is then described and intelligence quotient (IQ) introduced. Next they show that intelligence is a significant determinant of earnings within nations, and they connect intelligence with various economic and social phenomena. The sociology of intelligence at the level of sub-populations in nations is examined, and the independent (national IQ) and dependent (various measures of per capita income and economic growth rates) variables are defined and described. They then provide empirical analyses starting from the 81 countries for which direct evidence of national IQs is available; the analysis is then extended to the world group of 185 countries. The hypothesis is tested by the methods of correlation and regression analyses. The results of statistical analyses support the hypothesis strongly. The results of the analyses and various means to reduce the gap between rich and poor countries are discussed. A provocative analysis that all scholars, students, and researchers involved with economic development need to confront.