One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that physical capital can substitute for natural capital .
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Ecological economics was founded in the 1980s as a modern discipline on the works of and interactions between various European and American academics .
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The related field of green Ecological economics is in general a more politically applied form of the subject.
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Ecological economists have questioned fundamental mainstream economic approaches such as cost-benefit analysis, and the separability of economic values from scientific research, contending that economics is unavoidably normative, i e prescriptive, rather than positive or descriptive.
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Antecedents of ecological economics can be traced back to the Romantics of the 19th century as well as some Enlightenment political economists of that era.
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Ecological economics argued that a market system failed to take into account the needs of future generations, and that a socialist economy required calculation in kind, the tracking of all the different materials, rather than synthesising them into money as a general equivalent.
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European predecessors of ecological economics include K William Kapp Karl Polanyi, and Romanian economist Nicholas Georgescu-Roegen .
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Ecological economics renewed interest in the approach developed by Otto Neurath during the interwar period.
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Articles by Inge Ropke and Clive Spash cover the development and modern history of ecological economics and explain its differentiation from resource and environmental economics, as well as some of the controversy between American and European schools of thought.
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An article by Robert Costanza, David Stern, Lining He, and Chunbo Ma responded to a call by Mick Common to determine the foundational literature of ecological economics by using citation analysis to examine which books and articles have had the most influence on the development of the field.
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Degrowth draws from Marxian Ecological economics, citing the growth of efficient systems as the alienation of nature and man.
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Ecological economics Swaraj originated out of India, and is an evolving world view of human interactions within the ecosystem.
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Ecological economics economists argue that industrial agriculture, which exacerbates these problems, is not sustainable agriculture, and are generally inclined favorably to organic farming, which reduces the output of carbon.
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Ecological economics is more willing to entertain alternative conceptions of utility, efficiency, and cost-benefits such as positional analysis or multi-criteria analysis.
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Primary objective of ecological economics is to ground economic thinking and practice in physical reality, especially in the laws of physics and in knowledge of biological systems.
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Richard B Norgaard argues traditional economics has hi-jacked the development terminology in his book Development Betrayed.
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Ecological economics is distinguishable from neoclassical economics primarily by its assertion that the economy is embedded within an environmental system.
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Ecological economists argue that neoclassical economics has ignored the environment, at best considering it to be a subset of the human economy.
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Resource and neoclassical economics focus primarily on the efficient allocation of resources and less on the two other problems of importance to ecological economics: distribution, and the scale of the economy relative to the ecosystems upon which it relies.
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Ecological economics makes a clear distinction between growth and development, while arguing that neoclassical economics confuses the two.
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Key concept of energy Ecological economics is net energy gain, which recognizes that all energy sources require an initial energy investment in order to produce energy.
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In practice, ecological economics focuses primarily on the key issues of uneconomic growth and quality of life.
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Ecological economics economists are inclined to acknowledge that much of what is important in human well-being is not analyzable from a strictly economic standpoint and suggests an interdisciplinary approach combining social and natural sciences as a means to address this.
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ThermoEcological economics is based on the proposition that the role of energy in biological evolution should be defined and understood through the second law of thermodynamics, but in terms of such economic criteria as productivity, efficiency, and especially the costs and benefits of the various mechanisms for capturing and utilizing available energy to build biomass and do work.
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Ecological economics economists agree that ecosystems produce enormous flows of goods and services to human beings, playing a key role in producing well-being.
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Ecological economics is founded upon the view that the neoclassical economics assumption that environmental and community costs and benefits are mutually canceling "externalities" is not warranted.
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