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The economic value of the Earth's resources

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  • Chichilnisky, Graciela

Abstract

Economics is the driving force of today's widespread environmental destruction. Markets undervalue the earth's resources and compound their overuse. Since World War II the world has used resources voraciously. The situation can be described as the industrial countries overconsuming resources which are overextracted and exported by developing countries and traded at prices that are lower than the social costs. Resource-intensive patterns of growth and trade are inefficient for the world economy, and lead to tragic maldistribution of the Earth's riches. They should be replaced by knowledge-intensive patterns of growth. Information technology and the environmental agenda are the two most important trends in the world economy. Together they can lead to growth that is intrinsically compatible with the environment.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8491.

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Date of creation: 1995
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Publication status: Published in Trends in Ecology and Evolution (TREE) No. 3.11(1996): pp. 135-140
Handle: RePEc:pra:mprapa:8491

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Keywords: environmental destruction; non-renewable resources; international trade; world economy;

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References

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  1. Chichilnisky, Graciela, 1977. "Development patterns and the international order," MPRA Paper 7991, University Library of Munich, Germany.
  2. Chichilnisky, Graciela, 1994. "North-South Trade and the Global Environment," American Economic Review, American Economic Association, vol. 84(4), pages 851-74, September.
  3. Graciela Chichilnisky & Geoffrey Heal, 1993. "Global Environmental Risks," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 65-86, Fall.
  4. Chichilnisky, Graciela & Heal, Geoffrey, 1994. "Who should abate carbon emissions? : An international viewpoint," Economics Letters, Elsevier, vol. 44(4), pages 443-449, April.
  5. Chichilnisky, Graciela, 1993. "North-South trade and the dynamics of renewable resources," Structural Change and Economic Dynamics, Elsevier, vol. 4(2), pages 219-248, December.
  6. Chichilnisky, Graciela, 1981. "Terms of trade and domestic distribution : Export-led growth with abundant labour," Journal of Development Economics, Elsevier, vol. 8(2), pages 163-192, April.
  7. repec:fth:coluec:645 is not listed on IDEAS
  8. Graciela Chichilnisky, 1997. "What Is Sustainable Development?," Land Economics, University of Wisconsin Press, vol. 73(4), pages 467-491.
  9. Chichilnisky, Graciela, 1996. "Trade regimes and GATT: resource-intensive vs. knowledge intensive growth," MPRA Paper 8493, University Library of Munich, Germany.
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Cited by:
  1. Graciela Chichilnisky, 1997. "The knowledge revolution," New Economy, Institute for Public Policy Research, vol. 4(2), pages 107-111, 06.
  2. Chichilnisky, Graciela, 1998. "The economics of global environmental risk," MPRA Paper 8812, University Library of Munich, Germany.

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