Externality or sustainability economics?
AbstractIn an effort to develop "sustainability economics" Baumgärtner and Quaas (2010) neglect the central concept of environmental economics-"environmental externality". This note proposes a possible connection between the concepts of environmental externality and sustainability. In addition, attention is asked for other aspects of "sustainability economics", namely the distinction weak/strong sustainability, spatial sustainability and sustainable trade, distinctive sustainability policy, and the ideas of early "sustainability economists". I argue that both sustainability and externalities reflect a systems perspective and propose that effective sustainability solutions require that more attention is given to system feedbacks, notably other-regarding preferences and social interactions, and energy and environmental rebound. The case of climate change and policy is used to illustrate particular statements. As a conclusion, a list of 20 insights and suggestions for research is offered.
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Bibliographic InfoArticle provided by Elsevier in its journal Ecological Economics.
Volume (Year): 69 (2010)
Issue (Month): 11 (September)
Contact details of provider:
Web page: http://www.elsevier.com/locate/ecolecon
Climate change Dynamic externalities Rebound Spatial sustainability Resilience Steady-state economy Strong/weak sustainability Sustainability policy Systems thinking;
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