The grim history of Nauru Island, a small speck in the Pacific Ocean halfway between Hawaii and Australia, represents a larger story of environmental degradation and economic dysfunction. For more than 2,000 years traditional Nauruans, isolated from the rest of the world, lived in social and ecological stability. But in 1900 the discovery of phosphate, an absolute requirement for agriculture, catapulted Nauru into the world market. Colonial imperialists who occupied Nauru and mined it for its lucrative phosphate resources devastated the island, which forever changed its native people. In 1968 Nauruans regained rule of their island and immediately faced a conundrum: to pursue a sustainable future that would protect their truly valuable natural resources—the biological and physical integrity of their island—or to mine and sell the remaining forty-year supply of phosphate and in the process make most of their home useless. They did the latter.In a captivating and moving style, the authors describe how the island became one of the richest nations in the world and how its citizens acquired all the ills of modern life: obesity, diabetes, heart disease, hypertension. At the same time, Nauru became 80 percent mined-out ruins that contain severely impoverished biological communities of little value in supporting human habitation.This sad tale highlights the dire consequences of a free-market economy, a system in direct conflict with sustaining the environment. In presenting evidence for the current mass extinction, the authors argue that we cannot expect to preserve biodiversity or support sustainable habitation, because our economic operating principles are incompatible with these activities.

Paradise for Sale: A Parable of Nature

Business & Money

Gowdy, John M.

McDaniel, Carl N.

Economics

University of California Press

The grim history of Nauru Island, a small speck in the Pacific Ocean halfway between Hawaii and Australia, represents a larger story of environmental degradation and economic dysfunction. For more than 2,000 years traditional Nauruans, isolated from the rest of the world, lived in social and ecological stability. But in 1900 the discovery of phosphate, an absolute requirement for agriculture, catapulted Nauru into the world market. Colonial imperialists who occupied Nauru and mined it for its lucrative phosphate resources devastated the island, which forever changed its native people. In 1968 Nauruans regained rule of their island and immediately faced a conundrum: to pursue a sustainable future that would protect their truly valuable natural resources―the biological and physical integrity of their island―or to mine and sell the remaining forty-year supply of phosphate and in the process make most of their home useless. They did the latter. In a captivating and moving style, the authors describe how the island became one of the richest nations in the world and how its citizens acquired all the ills of modern life: obesity, diabetes, heart disease, hypertension. At the same time, Nauru became 80 percent mined-out ruins that contain severely impoverished biological communities of little value in supporting human habitation. This sad tale highlights the dire consequences of a free-market economy, a system in direct conflict with sustaining the environment. In presenting evidence for the current mass extinction, the authors argue that we cannot expect to preserve biodiversity or support sustainable habitation, because our economic operating principles are incompatible with these activities.

Microeconomic Theory Old and New: A Student's Guide

Microeconomic Theory Old and New: A Student's Guide has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory―establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. Each is discussed verbally, graphically, and using mathematics. After reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system. Although the text focuses on the intellectual framework of standard economic theory, relevant mathematical techniques are discussed. The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzamura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory. Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

Stanford Economics and Finance

Microeconomic Theory Old and New: A Student's Guide has two main goals. The first is to give advanced undergraduate and graduate students an understanding of the core model of economics: Walrasian general equilibrium theory. The text presents in detail the three building blocks of Walrasian theory―establishing Pareto efficiency in a barter economy, establishing the efficiency of competitive markets, and accounting for market failure. Each is discussed verbally, graphically, and using mathematics. After reading this book, students will have an understanding of how the seemingly disparate pieces of conventional economics fit together as a system. Although the text focuses on the intellectual framework of standard economic theory, relevant mathematical techniques are discussed. The second goal is to present contemporary extensions and emerging alternatives to the Walrasian model. Some of the theoretical inconsistencies in the model are presented, drawing on the work of Samuelson, Boadway, Chipman and Moore, Ng, and Suzamura, among others. The text then presents challenges to the basic assumptions of the Walrasian system, posed by findings in behavioral economics and evolutionary game theory. Understanding both the Walrasian system and the theoretical and experimental critiques of classical economics is essential to those who ultimately work within the traditional framework and to those looking for an alternative, making this a must read for all students of economics.

Ultrasocial argues that rather than environmental destruction and extreme inequality being due to human nature, they are the result of the adoption of agriculture by our ancestors. Human economy has become an ultrasocial superorganism (similar to an ant or termite colony), with the requirements of superorganism taking precedence over the individuals within it. Human society is now an autonomous, highly integrated network of technologies, institutions, and belief systems dedicated to the expansion of economic production. Recognizing this allows a radically new interpretation of free market and neoliberal ideology which - far from advocating personal freedom - leads to sacrificing the well-being of individuals for the benefit of the global market. Ultrasocial is a fascinating exploration of what this means for the future direction of the humanity: can we forge a better, more egalitarian, and sustainable future by changing this socio-economic - and ultimately destructive - path? Gowdy explores how this might be achieved.

Ultrasocial: The Evolution of Human Nature and the Quest for a Sustainable Future

Cambridge University Press

See the best price to sell, buy, or rent books by Gowdy, John M.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Gowdy, John M.

See the best price to sell, buy, or rent books by Gowdy, John M.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Paradise for Sale: A Parable of Nature

Paradise for Sale: A Parable of Nature

Microeconomic Theory Old and New: A Student's Guide

Microeconomic Theory Old and New: A Student's Guide

Ultrasocial: The Evolution of Human Nature and the Quest for a Sustainable Future