Water Rights: An Ecological Economics Perspective

Abstract

COAG water policy reform agenda is used as a backdrop to illustrate how the ideas, propositions and recommendations being developed by ecological economists differ from those that have been developed by conventional economists.<br><br> Ecological economics is a new trans-discipline, characterised by models, that take the laws of nature seriously; a vision that economies are nested within and dependent upon maintenance of a global ecological system; and a concern for the welfare of people in this generation and in future ones.<br><br> Ecological economics seeks to understand the underlying and fundamental causes of environmental degradation and the means to redress them. Efficiency is not seen as a sacrosanct objective but maintenance of the integrity of our global ecosystem is. The market is important but not the source of all information. Recognition of uncertainty, a willingness to consult with and use social welfare functions set by communities; and attention to institutional issues are part of the core agenda. Show more