Natural Capital on The Real Difference Between Environmental and Ecological Economists:
Illge and Schwarze provide an interesting paper to determine the real differences between the research of neoclassical environmental economists and ecological economists.
In short:
- Neoclassical environmental economics favor a goal of weak sustainability (technology will lead to physical capital substituting for natural capital) and tries to be objective.
- Ecological economists favor a goal of strong sustainability (physical capital can't substitute for natural capital) and don't worry about being objective.
