This paper discusses the major tenets of ecological economics - including value pluralism, methodological pluralism, and multi-criteria policy assessment. Ecological economics offers viable alternatives to the theoretical foundations and policy recommendations of neoclassical welfare economics....

During the past decade theoretical and empirical advances in neoclassical economics have resulted in the virtual rejection of the two pillars of traditional welfare economics-- rational economic man and perfect competition. Surprisingly, many ecological economists are moving closer to the...