APES CHAPTER 6

Ethics

is a set of moral principles or values used to determine right and wrong

Economic

how people use scarce resources to provide goods/services

Culture

knowledge, beliefs, values, and learned ways of life shared by a group of people

worldview

A person’s perception of the world and their place within it

Ethical standards

criteria that help to differentiate right from wrong

principle of utility

something is right when it produces the greatest benefits for the most people

instrumental value

valued for pragmatic/practical use

intrinsic value

has a right to exist, is valuable for its own sake

instrumental value

(timber, hunting, recreational uses, and water filtration)

intrinsic value

homes for other organisms that have a right to live

Market prices

easily assigned to instrumental values, but not easily to intrinsic.

environmental ethics

application of ethical standards to relationship between people and nonhuman entities

anthropocentrism

human-centered view; nonhumans- little or no intrinsic value.

Ecocentrism

based on effects on ecological systems, including nonliving elements. Preserving systems also preserves their components, including life, water quality

transcendentalism

rejecting materialism -ideals of preserving nature as a priority to industrial modernization

conservation ethic

people should use natural resources, in a wise, careful manner.

development ethic

people should be masters of nature and promote economic development as a priority

Environmental justice

applying an environmental policy and practice to all people, regardless of income, race, or ethnicity.

economy

social system, converts resources into goods/services

Natural resources /goods

fresh water, trees, and the energy from the sun, wind, water, and fossil fuels.

Ecological services

air and water purification, soil formation, climate regulation, pollination, and waste recycling

classical economics

under the right conditions, the marketplace will behave as if guided by an “invisible hand” to benefit society

Neoclassical economics

conflict between buyers (want a low price) and sellers (want a high price).

supply

the amount of product offered for sale at a given price

demand

(the amount of product people will buy at that price).

equilibrium point

where supply equals demand

cost-benefit analysis

compare estimated costs of a proposed action with benefits

Ecolabeling

advertising sustainable practices on the labels of products- attract more consumers.

Socially responsible investing

investors choose companies that promote sustainability.

Neoclassical economics

only takes into account internal costs (directly borne by individuals taking part in exchange of goods/services)

economic growth

(increase in production and consumption) is “essential”

External costs

affect others besides the buyer and seller

Economic growth can occur in two ways

Increasing inputs (labor or natural resources)
Improving the efficiency of production with better methods or technology

Cornucopians

assume that human ingenuity can overcome environmental constraints, allowing indefinite growth.

Cassandras

believe indefinite growth is not possible.

environmental economics

goal is to attain sustainability within our economic systems.

Ecological economics

economies should attain a stability, much like natural populations do in the face of environmental limitations.

Steady-state economies

neither growing nor shrinking (a natural equilibrium)

Ecosystem services

nonmarket values- not part of the price of a good or service.

Contingent valuation

surveys to determine how much people are willing to pay to protect/restore a resource.

Gross Domestic Product (G D P)

the total monetary value of goods and services produced in a year in a country.

Genuine Progress Indicator (G P I)

Adds unpaid positive contributions, Ex:parenting and volunteering

Human Development Index

include education and life expectancy.

Happy Planet Index

amount of happiness we gain per resource consumed.

Market failure

positive outside forces (like ecosystem services) and external costs are not considered.

Government intervention

to counteract market failure

greenwashing

corporate greening efforts pursued mostly for public relations, have little impact.

Sustainable development

economic progress that maintains resources for the future.

Development

the use of natural resources for economic advancement, not just survival

Weak sustainability

natural capital can be depleted as long as human-made capital increases to compensate.

Strong sustainability

natural capital cannot be depleted because human capital cannot replace it.