Whither economics? From optimality to sustainability?

Author:

BARTELMUS PETER

Abstract

Environment and economy interact. Most economists and economic policy makers have tended to neglect this interaction as 'external' to mainstream market economics. The question is whether environmental externalities have reached a level where they overwhelm optimality and efficiency in resource allocation. Sustainability in growth and development has been advanced as a criterion for dealing with the social costs of environmental impacts. The article examines how this criterion can be operationalized for assessing the significance of environmental concerns in economic analysis and policy. Indicators of economic and ecological sustainability are defined and compiled for selected countries. Based on these indicators, operational paradigms of 'eco-nomics' and 'sustainable development' are advanced.

Publisher

Cambridge University Press (CUP)

Subject

Economics and Econometrics,General Environmental Science,Development

Cited by 10 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Pluralism in EIA practice: A Q-method analysis of the economic growth-environment nexus;Impact Assessment and Project Appraisal;2022-06-01

2. Ecological inequality in assessing well-being: Some applications;Policy Sciences;2006-03-08

3. Dematerialization and capital maintenance: two sides of the sustainability coin;Ecological Economics;2003-08

4. Greening the National Accounts — Approach and Policy Use;Internationalization of the Economy and Environmental Policy Options;2001

5. Renewable Natural Resource Management and Use without Markets;Journal of Economic Literature;2000-12-01

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