Comparative analysis between environmental economics and ecological economics in the approach to ecosystem services
DOI:
https://doi.org/10.34117/bjdv11n9-019Keywords:
sustainability, environmental conservation, natural capitalAbstract
This paper presents a comparative analysis between environmental economics and ecological economics, focusing on their approaches to ecosystem services. The research is justified by the need to understand how these two schools of thought influence public policies, environmental governance, and the concept of sustainability. The main objective is to compare the approaches, highlighting their theoretical, methodological, and normative foundations. The methodology employed is an exploratory and comparative literature review of a theoretical-conceptual nature. The selection of materials included works by recognized authors in both fields. The analysis was based on criteria such as theoretical origin, conception of sustainability, and methods of valuation and public policy instruments. Environmental economics, with its neoclassical basis, views environmental degradation as a market failure and seeks to correct it through monetary valuation and economic instruments, such as payments for ecosystem services (PES). In contrast, ecological economics is a transdisciplinary approach that considers the economy a subsystem of the ecological system, subject to biophysical limits. It advocates for strong sustainability, plural valuation (not just monetary), and policies based on ecological boundaries and social participation. It is concluded that the two approaches, while distinct, can be complementary. While environmental economics offers useful tools for economic decision-making, ecological economics proposes a structural shift in the relationship between society and nature. The dialogue between these two perspectives is crucial for building robust responses to contemporary challenges.
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