Hanley et al. (1996) argues that it is only when people satisfy their financial needs that they remember the non-renewable characteristic of natural resources. The problem in the Niger Delta escalates as a result of humans focusing on the economic gains derived from exploitation of the oil reserves, disregarding the consequences on environment. The petro-business is a significant source of government revenue. Oil extraction largely affects the environment through oil spills from the high pressure pipelines that cross through the villages. The inhabitants of these villages are aware of the dangers posed to their health by the oil spills and also know that the companies involved reap huge benefits from the oil business (Ibeanu, 2000). They are aggrieved by the fact that they do not get a share of what they believe are their own resources. Environmental pollution and injuries on the community members result from the activities of the petroleum companies, which emphasize on their right to extract the resources without disturbance especially considering the industry’s contribution to government revenue. People use natural resources the way they do because of varied reasons especially if the goods serve the interests of more than one group. Unless there are rules to curtail the overuse of the resources, there is usually a high risk of depletion (Acheson et al. 2006). The owners of the oil companies believe that they have a right to extract oil because they contribute a great deal to the economy.
Cite this document
(“Ecological Economics Essay Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.net/social-science/392857-ecological-economics
(Ecological Economics Essay Example | Topics and Well Written Essays - 2500 Words)
“Ecological Economics Essay Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.net/social-science/392857-ecological-economics.
Cited: 0 times
This paper “Ecological Economics” presents a case study of oil mining conflict in the Niger Delta, Nigeria. It discusses the social, economic and institutional dimensions of the environmental problem that has resulted from the oil mining and refining activities. …
Now, I have a clear idea that all the entities in the biosphere are mutually interdependent and natural resources are finite and scarce in absolute terms. From the lecture, I found ecological community has a natural tendency to progress from simple and unstable relationship to more stable, diverse and complex community.
The sellers and buyers are on two sides of the market forces that meet at the market with the aim of maximizing private gains from obtaining goods and services (Weintraub 2002; Keita 1992, 7). This paper presents a study on the compatibility of this theory with the basic concepts of sustainability.
The author states that if a claim is made for the future generations, then it will be possible to take away from the current world order, which has certainly been responsible for much of the earth’s environmental damage, the power to continue doing what it is currently doing so that there might be a break from the environmental degradation.
The theory of ecological modernization can be defined as a new thought that has a new outlook on the environmental discourse. Therefore it is a new school of thought that has a focus on the issue regarding the environment. At the centre of development of this theory was a social scientific and policy oriented approach in the view of the contemporary society and the environment crisis that the world is facing.
Economies in the world are growing with the help of goods and services provided by nature but without consideration of the limits set by nature. Not only is the society exhausting its capital but is also increasing some unwanted substances into the nature through its production which can have impact not only on human health and well-being but also on the ecological well-being on which the entire human survival depends.
But it should also be remembered that the approach of Environmental economics is quite different from that of green economics or ecological economics. This is because these forms of economics use virtually non standard approaches to ecology, environmental studies, environmental science, or environmental problems.
Real goods refer to market goods, while services refers to payment of interest on loans borrowed, royalties on intellectual property, income earned on international investments, etc. Transfer of payments on the other hand, refers to
There is no single entity that is large enough to control or dictate price, demand or supply. The behaviour and decisions of any competitor or customer does not affect the market.
The market carries a homogeneous
The degree of the problems recently besetting the natural resources and environment reflects the significant social economic progress attained in the XX century. Sustainable development is progress that meets the requirements of the current generation without compromising the capability of future generations to satisfy their own necessities.