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Chapter 2: Economics, Politics, and Public Policy - Coggle Diagram

- - - - Regulating: Services obtained from the regulation of ecosystem processes.
        
        Cultural: Nonmaterial benefits from ecosystems.
- - - - Sustainable economy:
        
        Human well-being is important with no growth at all costs.
        
        Preserves ecosystem resources and services instead of using them for capital.
        
        Precautionary principle in terms of emerging technologies.
      - Green Economy:
        
        Produced capital: Essential to the production of goods and services. Durable goods.
        
        Natural capital: World's natural resources provided by the environment. Fossil and mineral resources.
        
        Intangible capital: Not physical in nature. (Broken into human, social, and knowledge capital.)
        
        Human capital: Population.
        
        Social capital: Socio Political environment we create. (Courts, governments, social liberties etc.)
        
        Knowledge capital: Written knowledge that is transferred from person to person. (Schools, libraries).
- - - - Command and control: set a standard and polluters must comply.
      - Market approach: User fees.
  - - - Cost Benefit Analysis:
      - Examines need and cost-effectiveness of proposed regulations.
      - Accounts for external costs-effect of process not included in usual profit/loss calculations.
      - What is an externality?
  - - - Helps us protect and restore our planet.
      - Does not diminish wealth.
      - Creates industry jobs.