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Summary of Circular Economy
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Summary of Circular Economy
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1. Comment14 October 2021 at 13:55:18
(Crutzen)
2. Comment
14 October 2021 at 13:56:21
E.g. use over Half go accessible
water, dominate flows of more
periodic elements than nature
does
3. Comment
14 October 2021 at 13:56:53
(Rockström)
4. Comment Part 1: Introduction
14 October 2021 at 14:11:28
Clean up, find other within limits
Concepts:
1 2 • Anthropocene: human dominance of nature
5. Comment
14 October 2021 at 14:11:52 • Transgression of planetary boundaries
Indicator: atmospheric CO2 • Holocene: current state
3 • Planetary boundaries
concentration
• Crossing boundaries → trigger abrupt environmental change
6. Comment 4 • Types (interdependent):
14 October 2021 at 14:08:53 5 • Climate change
Negative impacts: 6 • Ocean acidification
- Marine biodiversity loss 7 • Stratospheric ozone ← within limits
- Undermines ocean as CO2 sink 8 • Biogeochemical nitrogen/phosphorus cycles
9 • Global freshwater use
7. Comment 10 • Land-system change
14 October 2021 at 14:09:15 11 • Biodiversity loss
Negative impacts: 12 • Chemical pollution
- Exposure to UV rays (health • Atmospheric aerosol loading
risks)
13 Environmental economics: nature as one of many input factors in economy
Montreal Protocol resealed hole 14 16 • Classical: use value vs exchange value (zero sum)
(caused by CFC) • Neoclassical:
17 • Marginal revolution: use value is subjective, introduction of math
8. Comment • Meta-theory:
14 October 2021 at 14:10:24 • People have rational preferences among outcomes
Converted in industrial processes • Individuals maximize utility, firms maximize profit
• People act independently on the basis of full/relevant information
9. Comment • Morals:
14 October 2021 at 14:10:39 18 • Altruism experiment
Negative impacts: • Tragedy of the commons: open access + lack of property rights → overexploitation
- Shifting river flows 19 20 • Critique: false dichotomy of socialism/privatism, pessimistic view of human prospect
- Drying up bodies of water 21 • Policy instruments: information campaigns, nudges, taxes/subsidies, cap and trade, command
and control
10. Comment 22 • Environmental problems caused by market failures
14 October 2021 at 14:10:54 • Externalities: costs not faced by producer/consumer
Caused by agricultural • Pigouvian taxes: internalizing externalities via pricing
expansion/intensification 23 • Cap and trade: transferable allowances
24 25 • Types of pollution: ow vs stock
11. Comment • Critique:
14 October 2021 at 14:11:09
• Scarcity is absolute (vs relative)
Caused by habitat loss • Scarcity incentivizes conservation
26 • No evidence of absolute decoupling of environmental impact from economic growth
12. Comment 27 • Limited knowledge on agent ignorance/reaching market equilibria
14 October 2021 at 14:11:38
28 • Alternative (post-growth) approaches:
Undetermined limits; need more • Agrowth: agnosticism toward growth
research
• Degrowth: aim for reduction of economic activity
• Steady state: zero growth once within planetary boundaries
13. Comment
14 October 2021 at 13:17:44
Aka natural resource economics
(Neoclassical economics applied
to environmental topics)
14. Comment
14 October 2021 at 13:22:29
E.g. Adam Smith
15. Comment
14 October 2021 at 13:21:17
Usefulness
E.g. water has high USE value
fl
, (since useful), but low exchange
value (since abundant)
16. Comment
14 October 2021 at 13:21:50
Relative value (amount of labor it
embodies)
17. Comment
14 October 2021 at 13:23:03
Mazzucato: derive value from
theory of price (previously it was
the reverse)
18. Comment
14 October 2021 at 13:46:52
(Fal and Szech)
Investigated willingness of
subjects to pay €10 to save lab
rat
Groups:
- Control
- Bilateral market treatment (must
split €20 with someone else after
killing)
- Multilateral market treatment (?)
Result: fewer mice saved in
treatment groups (“if I don’t do
this, someone else will”)
Conclusion: people lose altruism
when they cannot predict
behavior of others
19. Comment
14 October 2021 at 13:46:43
Ostrom
20. Comment
14 October 2021 at 13:46:09
Used to justify central
government control of all
common pool resources
But many indigenous
communities treat environment
better than governments
21. Comment
14 October 2021 at 13:52:08
Controls/fines, technology
requirements, quotas, legal
liability
22. Comment
14 October 2021 at 13:39:36
Externalities, public goods,
asymmetric information, market
power
23. Comment
14 October 2021 at 13:51:00
E.g. can purchase rights to emit a
certain amount of pollution
24. Comment
14 October 2021 at 13:54:02
Marginal benefits = marginal cost
+ marginal external damage
25. Comment
14 October 2021 at 13:54:12
Marginal benefits = marginal cost
+ discounted cumulative marginal
external damage
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