Professor Bob Williams examines the essential elements that give ecosystems their durability. These key characteristics are: self-regulating cycles of key materials, a plentiful and durable energy source, an ability to adjust to changing circumstances, and the capacity for resiliency in the face of unpredictable disruptions. In separate chapters, each of these natural attributes are applied to our economy and 20 polices are recommended to shift our economy toward each of these objectives. The policies include marketable waste emission permits, a "carbon" tax, split-rate property taxation, environmental assurance bonds, a revamped home mortgage deduction, and an inheritance tax. These policies function to implement the principle of full-cost pricing in order to ensure market incentives that encourage environmentally temperate behaviour and decisions.
This book will be of interest to students of Ecology and Economics, at undergraduate and postgraduate level alike, as well as anyone seeking an understanding of key ecological concepts that are critical to fully appreciating the role of natural capital in our economic affairs