Question

4. Ecological Economics has sometimes been called the science of sustainability. Do you agree with this definition? a. Please define the term sustainability. b. Is diversity important to attaining sustainability? Please explain.

Answer 1

Yes. Ecological economics is rightly defined as the science of sustainability since its principles are based on the concept of sustainable development. It is concerned with achieving economic growth while protecting the environment and preventing its degradation.

a. Sustainability refers to any development that takes into account the environment and takes steps to prevent its depletion. In economic terms, while calculating the total costs of an activity the costs due to environmental depletion is also included for sustainability.

b. Ecosystem diversity is necessary for maintaining the environmental balance. Different types of organisms coexist and complement each other's existence. The extinction of any single organism from earth disturbs the food chain among animals and the symbiotic relationship among different species of animals and plants. Thus preservation of this diversity in nature is essential for sustainability.