Question

Briefly explain three differences between neoclassical economics and ecological economics. [Note: There are many differences, but you must explain three of them using good arguments and examples]. 1000 word need

Answer 1

Answer:

NeoClassical Economics focuses on what is believed to be efficient allocation of resources. Ecological Economics looks at the economy within the context of human ecology. ... They say we must look at human capital, natural capital, social capital, as well as built or produced capital and financial capital.

While neoclassical environmental and resource economics is based on the assumption of weak sustainability, most ecological economics subscribes to the idea of strong sustainability