Bridging Environmental Theories Essay

693 WordsOct 21, 20133 Pages
EVSP502 Article 1, Week 2 Ecological Economics Volume 69, Issue 7, 15 May 2010, Pages 1368-1372 Bridging theories on environmental governance Insights from free-market approaches and institutional ecological economics perspectives By: Lenka Slavíková, Tatiana Kluvánková-Oravská, Jiřina Jílková This paper discusses the differences and similarities between two approaches to environmental protection. The first approach is the free market, and the second is institutional. Both approaches attempt to find an answer to why there is a continual degradation of nature and what we can do about it. The Institutional approach is all about the interactions of society and government with the environment. It asks important questions such as how we as a society can correct our excesses and deficiencies with regard to protecting the environment. For the followers of this approach, it is institutions that determine and influence human behavior; so as a result, institutions should be the ones to correct that behavior. For them, “it is necessary to see the unsustainable use of natural resources as a consequence of property and management regimes that give users poor incentives for protecting these resources (Slavíková, Oravská, Jílková, 1369).” In layman’s terms, this means that there should be a law or regulation that prohibits or restricts such behavior. This approach uses empirical data to create more efficient and reformed institutions that use many different layers of government to achieve the desired ends. The free market approach uses a completely different paradigm. It is based off the Austrian school of economic thought and promotes the idea that “the free market will protect nature better than environmental regulation (Slavíková, Oravská, Jílková, 1369).” In order for a free market to create better environmental outcomes, property rights need to be

More about Bridging Environmental Theories Essay

Open Document