A regulatory framework for a policy of sustainability: lessons from the neo-liberal school
AbstractIn this paper targets, institutions and policy measures for describing and implementing sustainable development are evaluated in terms of their conformity with the economic framework of a market system. Firstly, from the viewpoint of neo-liberal economic thinking as conceived by the German Freiburg school of economists (Eucken), a general set of criteria is developed, including issues of operationalization and legitimation of goals as well as institutional and instrumental issues. On this basis general rules for designing an ecological framework guaranteeing the greatest possible degree of conformity with a market system are derived. The concrete application of these rules leads to recommendations for a policy of sustainability with respect to the setting of goals, the establishment of institutions (role of ecological councils, of a central environmental organization on UN level and of the GATT/WTO regime) as well as the use of appropriate instruments. --
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Bibliographic InfoArticle provided by Elsevier in its journal Ecological Economics.
Volume (Year): 28 (1999)
Issue (Month): 2 (February)
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Web page: http://www.elsevier.com/locate/ecolecon
Other versions of this item:
- Rennings, Klaus & Koschel, Henrike & Brockmann, Karl Ludwig & Kühn, Isabel, 1997. "A Regulatory Framework for a Policy of Sustainability: Lessons from the Neo-Liberal School," ZEW Discussion Papers 97-13, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
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