A Regulatory Framework for a Policy of Sustainability: Lessons from the Neo-Liberal School
AbstractIn this paper targets, institutions and policy measures for describing and implementing sustainable development are evaluated in terms of their conformity with the economic framework of a market system. Firstly, from the viewpoint of neo-liberal economic thinking as conceived by the German Freiburg school of economists (Eucken), a general set of criteria is developed, including issues of operationalization and legitimation of goals as well as institutional and instrumental issues. On this basis general rules for designing an ecological framework guaranteeing the greatest possible degree of conformity with a market system are derived. The concrete application of these rules leads to recommendations for a policy of sustainability with respect to the setting of goals, the establishment of institutions (role of ecological councils, of a central environmental organization on UN level and of the GATT/WTO regime) as well as the use of appropriate instruments. --
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Bibliographic InfoPaper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 97-13.
Date of creation: 1997
Date of revision:
sustainability targets; regulatory rules; neo-liberal framework; environment and international trade; environmental policy assessment;
Other versions of this item:
- Rennings, Klaus & Koschel, Henrike & Brockmann, Karl Ludwig & Kuhn, Isabel, 1999. "A regulatory framework for a policy of sustainability: lessons from the neo-liberal school," Ecological Economics, Elsevier, vol. 28(2), pages 197-212, February.
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
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