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The Place of Nature in Economic Development

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  • Dasgupta, Partha
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    Abstract

    In this chapter both theory and empirics are used to show that our picture of the processes of economic development changes radically when nature is introduced as a capital asset. Particular features of institutions that fashion societies' use of the natural-resource base are identified and analyzed. It is also shown that conventional measures of human welfare are inadequate for identifying sustainable development.

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    This chapter was published in:

  • Dani Rodrik & Mark Rosenzweig (ed.), 2010. "Handbook of Development Economics," Handbook of Development Economics, Elsevier, edition 1, volume 5, number 6, January.
    This item is provided by Elsevier in its series Handbook of Development Economics with number v:5:y:2010:i:c:p:4977-5046.

    Handle: RePEc:eee:devchp:v:5:y:2010:i:c:p:4977-5046

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    Related research

    Keywords: sustainable development; wealth; externalities; common property resources; global public goods; climate change; social discount rates; environmental risks; shadow prices; natural capital;

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    References

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    Cited by:
    1. John COCKBURN & Jean-Yves DUCLOS & Agnès ZABSONRÉ, 2011. "Is the value of humanity increasing? A critical-level enquiry," Working Papers I13, FERDI.

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