ABSTRACT
In mainstream economics textbooks, ‘economics’ is normally connected with ‘allocation of scarce resources’, the main idea then being that ‘efficient’ management of such resources can be handled in monetary terms. In neoclassical economic analysis, the monetary dimension is emphasized. Neoclassical economists recommend the use of Cost-Benefit Analysis (CBA) for purposes of public decision-making. Another recommendation more connected with neoclassical environmental economics as a sub-field is ‘full-cost pricing’. Reference is repeatedly made to early studies by David W. Pearce with ‘total economic value’ in monetary terms as a key concept. The estimated value of specific ecosystem services is part of an aggregative process where all impacts are involved. Pavan Sukhdev as study leader is apparently glad to enter into a role where neoclassical economics and CBA with its specific ideological orientation are celebrated. Political economic persons whose identities are more connected with ‘ecological economics’ participated but were not strong enough in the political power game that apparently took place.
