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Sector-Level Decisions in a Sustainability-Constrained Economy

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  • Richard T. Woodward
  • Richard C. Bishop

Abstract

Despite two decades of debate, there remains little consensus about what sustainability is, and how it should be achieved. Economists primarily portray sustainability as a macro-level concern, but there has been less attention on the implications of this social objective for policies related to the management of individual resources. This paper derives guidance for sector-level planning and project analysis from a macro-level norm of intergenerational fairness. Optimal sustainable management involves making tradeoffs between sectors. We derive a criteria for sector-level planning and project analysis that help make those tradeoffs without losing site of the sustainability goal.

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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 79 (2003)
Issue (Month): 1 ()
Pages: 1-14

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Handle: RePEc:uwp:landec:v:79:y:2003:i:1:p:1-14

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Web page: http://le.uwpress.org/

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Cited by:
  1. Rodrigues, Joao & Domingos, Tiago & Giljum, Stefan & Schneider, Francois, 2006. "Designing an indicator of environmental responsibility," Ecological Economics, Elsevier, vol. 59(3), pages 256-266, September.
  2. Craig Bond & Y. Farzin, 2008. "Alternative Sustainability Criteria, Externalities, and Welfare in a Simple Agroecosystem Model: A Numerical Analysis," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 40(3), pages 383-399, July.

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