Nature and Wealth: Overcoming Environmental Scarcity and Inequality
The Ohio State Discover Theme, Sustainable aqnd Resilient Economy, welcomes Edward B. Barbier, author of Nature and Wealth, and the John S./ Bugas Professor of Economics, University of Wyoming Department of Economics and Finance.
The global economy is facing two major threats: increasing environmental degradation and a growing gap between rich and poor. These two threats are symptomatic of a growing structural imbalance in all economies—how nature is exploited to create wealth. The root of this imbalance is that natural capital is under-priced, and hence overly exploited, whereas human capital is insufficient to meet demand, thus encouraging inequality. By adopting a Balanced Wealth Strategy we can overcome the structural imbalance between nature and wealth that is inhibiting innovation, growth and prosperity.