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Technology Benchmarks for Sustained Economic Growth

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Author Info
Kenneth L. Simons (Department of Economics, Royal Holloway, University of London)

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Abstract

An economic growth theory model is developed in which worldwide economic and population growth is optimistically allowed to be increasing in current population-and-economy size, but degradation of environmental quality can cause eventual population-and-economic collapse. The existence of an environmental technology time path that guarantees sustained growth (dY/dt >= 0) is proven. This time path is labeled a technology benchmark, a path of environmental technology in use that society must achieve to ensure against population-and-economic collapse. The World3 global simulation model, developed by an interdisciplinary team of scientists to analyze global growth and its relation to environmental issues, is used to derive estimates of the requisite time path for several key technologies. The estimated time paths are compared with available information on actual rates of technological change. Such technology benchmarks could serve as measurable goals for national and international policy.

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File URL: http://www.rhul.ac.uk/economics/Research/WorkingPapers/pdf/dpe0005.pdf
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Publisher Info
Paper provided by Department of Economics, Royal Holloway University of London in its series Royal Holloway, University of London: Discussion Papers in Economics with number 00/5.

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Length: 31 pages
Date of creation: Feb 2001
Date of revision: Feb 2001
Handle: RePEc:hol:holodi:0005

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Related research
Keywords: economic growth; limits; environment; technology benchmarks; global change;

Find related papers by JEL classification:
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
O3 - Economic Development, Technological Change, and Growth - - Technological Change

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This page was last updated on 2009-12-2.


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