Endangered Economies: How the Neglect of Nature Threatens Our Prosperity

by Geoffrey Heal

In the decades since Geoffrey Heal began his field-defining work in environmental economics, one central question has animated his "Can we save our environment and grow our economy?" This issue has become only more urgent in recent years with the threat of climate change, the accelerating loss of ecosystems, and the rapid industrialization of the developing world. Reflecting on a lifetime of experience not only as a leading voice in the field, but as a green entrepreneur, activist, and advisor to governments and global organizations, Heal clearly and passionately demonstrates that the only way to achieve long-term economic growth is to protect our environment.

Writing both to those conversant in economics and to those encountering these ideas for the first time, Heal begins with familiar concepts, like the tragedy of the commons and unregulated pollution, to demonstrate the underlying tensions that have compromised our planet, damaging and in many cases devastating our natural world. Such destruction has dire consequences not only for us and the environment but also for businesses, which often vastly underestimate their reliance on unpriced natural benefits like pollination, the water cycle, marine and forest ecosystems, and more. After painting a stark and unsettling picture of our current quandary, Heal outlines simple solutions that have already proven effective in conserving nature and boosting economic growth. In order to ensure a prosperous future for humanity, we must understand how environment and economy interact and how they can work in harmony―lest we permanently harm both.

Genres: Sustainability, Nonfiction, Economics

240 pages, Hardcover

Published December 20, 2016

Reviews

[Iris · Rating 3 out of 5]

found this in my apartment's laundry room, so i was like why not
but this book didn't really change my mind on anything...there were no dramatic insights. most of the content you learn in ap micro and ap environmental science. at least it was easy to read and not laden with academic jargon. the only part i noted down was ways to measure natural capital (through use values and revealed and stated preferences).
also the book has quite a western focus. i.e. the author writes about the value of natural resources in western medicine as if its a new invention rather than acknowledging how traditional chinese medicine has been doing this for centuries.

[Lilian · Rating 3 out of 5]

In his book, Prof Geoffrey Heal grapples with the question on every policymaker's mind: Is it possible to achieve sustainable development without compromising economic growth? He draws anecdotes from his years in environmental economics both as an academic and advisor in various high-level committees to show efforts that are being made to address this question. He entwines economics, politics and science around the environment and climate change while still presenting the core issues in a digestible manner.

Though he dwells more on the USA examples and the political economy around climate change which for me, I was a tad bit too much. Nonetheless, as I continued to read the book, I developed a greater appreciation since the country is heavily dependent on fossil fuels for economic growth. I also appreciated that he discussed emerging and developing countries like China that clearly prioritised industrial revolution to the detriment of the environment and are now mending their ways.

Overall, I think the would like a quick and digestible introduction to environmental economics or a good conversation starter. I will definitely be revisiting this book since climate change is such a hot button topic.

Review originally posted on Netgalley. Grateful for the free DRC in exchange for an honest review.

[Darren · Rating 4 out of 5]

For many, environmental concerns are an impediment to economic growth, with it being seemingly an either-or equation. Yet in this interesting, thought provoking book the author believes that we can have it all, namely a growing economy that works to protect the environment at the same time.

The author takes the reader through basic economic and environmental matters as well as offering up a fair chunk of relevant history, suggesting that the problem is becoming acute due to the threat of climate change, the accelerating loss of ecosystems and the rapid industrialization of the developing world. The result is something that you will either seize upon with both hands or remain still sceptical towards, but that itself should be a win-win situation as if both the environment and economy could be secured and saved there would be nothing to gain by destroying something unnecessarily.

There is a clear passion to the author’s writing and yet it retains a certain objectivity and distance, letting the arguments speak for itself; this is something that feels to be lacking in many pro-environment books. A range of solutions are offered up that support the author’s claims and further reading can be undertaken through the extensive range of provided notes and references.

For some it will be a different or difficult read. You may not agree with it all or you might not understand every part of it, yet it can be a worthwhile book to consider in any case and it may just change some opinions within those who have the power to effect change. In any case, there’s nothing to lose and a lot to potentially gain in the process.

Endangered Economies, written by Geoffrey Heal and published by Columbia University Press. ISBN 9780231180849. YYYY

[Mills College Library]

338.927 H4341 2017