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Full Description
During the last two decades, I have subjected the concept of sustainable development to economic analysis. To a great extent this work has been done in co-operation with my co-authors Wolfgang Buchholz, Bertil Tungodden, Martin Weitzman and Cees Withagen, and it has lead to a series of journal articles. This book presents the results of this research program. The original articles are reproduced. However, I have updated information about references and corrected a few mistakes (mostly typographical). STRUCTURE OF THE BOOK This book consists of 19 chapters. Chapter 1 is new, written as a guide to the book and its content. It also gives an up-to-date survey of relevant literature and its relation to the later chapters. Chapters 2-19 are reproductions of published articles. The articles are organized into three parts. Part I, which comprises Chaps.2-7, is concerned with the normative question of how to justify sustainability. Part II, consisting of Chaps.8-13, considers how sustainable development can be characterized. Finally, in Part III, Chaps.14-19 are devoted to the problem of indicating sustainability. Within each part, the initial chapter - i.e., Chap.2 for Part I, Chap.8 for Part II and Chap.14 for Part III - is an overview article that functions as a survey for the later chapters in the corresponding part.
Contents
Justifying Sustainability.- Economic Analysis of Sustainability.- Intergenerational Ethics Under Resource Constraints.- Justifying Sustainability.- Resolving Distributional Conflicts Between Generations.- The Malleability of Undiscounted Utilitarianism as a Criterion of Intergenerational Justice.- Rawlsian Intergenerational Justice as a Markov-perfect Equilibrium in a Resource Technology.- Unjust Intergenerational Allocations.- Characterizing Sustainability.- The Hartwick Rule: Myths and Facts.- Hartwick's Rule in Open Economies.- Capital Gains and 'Net National Product' in Open Economies.- Characterizing Sustainability: The Converse of Hartwick's Rule.- On the Sustainable Program in Solow's Model.- Maximin, Discounting, and Separating Hyperplanes.- Indicating Sustainability.- Green National Accounting for Welfare and Sustainability: A Taxonomy of Assumptions and Results.- Net National Product as an Indicator of Sustainability.- Adjusting Green NNP to Measure Sustainability.- Does NNP Growth Indicate Welfare Improvement?.- A General Approach to Welfare Measurement through National Income Accounting.- Green National Accounting with a Changing Population.
