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Water Rights: An Ecological Economics Perspective

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  • Michael Young

    (CSIRO)

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. 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. 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.

Suggested Citation

  • Michael Young, 1997. "Water Rights: An Ecological Economics Perspective," Working Papers in Ecological Economics 9701, Australian National University, Centre for Resource and Environmental Studies, Ecological Economics Program.
    • Handle: RePEc:anu:wpieep:9701
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    References listed on IDEAS

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    1. Costanza, Robert, 1996. "The impact of ecological economics," Ecological Economics, Elsevier, vol. 19(1), pages 1-2, October.
    2. Kirby, Michael G. & Blyth, Michael J., 1987. "Economic Aspects Of Land Degradation In Australia," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(2), pages 1-21, August.
    3. Young, Michael D., 1999. "The design of fishing-right systems -- the NSW experience," Ecological Economics, Elsevier, vol. 31(2), pages 305-316, November.
    4. Revesz, Richard L. & Stavins, Robert N., 2007. "Environmental Law," Handbook of Law and Economics, in: A. Mitchell Polinsky & Steven Shavell (ed.), Handbook of Law and Economics, edition 1, volume 1, chapter 8, pages 499-589, Elsevier.
    5. Bohm, Peter & Russell, Clifford S., 1985. "Comparative analysis of alternative policy instruments," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 1, chapter 10, pages 395-460, Elsevier.
    6. Hahn, Robert W, 1989. "Economic Prescriptions for Environmental Problems: How the Patient Followed the Doctor's Orders," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 95-114, Spring.
    7. Common,Michael, 1995. "Sustainability and Policy," Cambridge Books, Cambridge University Press, number 9780521436052, January.
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    Cited by:

    1. Duncan, Ronald C., 2003. "Agricultural and resource economics and economic development in Aboriginal communities," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(3), pages 1-18, September.

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