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Sustainability, Consumption, And Technology

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  • Mustafa Akan

    () (Dogus University)

Abstract

Sustainability of current economic system is analyzed in the face of growing population, accelerating exploitation of limited natural resources, and advances in technology. A Cobb-Douglas type of production function is assumed. Optimal control theory is employed to model the problem. It is proved that long term sustainability is possible, with or without population growth, only under certain conditions related to production and utility functions of the society.

Suggested Citation

  • Mustafa Akan, 2016. "Sustainability, Consumption, And Technology," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 5(2), pages 9-25.
  • Handle: RePEc:cpn:umkcjf:v:5:y:2016:i:2:p:9-25
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    File URL: http://apcz.pl/czasopisma/index.php/CJFA/article/view/CJFA.2016.012/11416
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    References listed on IDEAS

    as
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    5. Pezzey, John C.V. & Toman, Michael, 2002. "The Economics of Sustainability: A Review of Journal Articles," Discussion Papers 10683, Resources for the Future.
    6. Graciela Chichilnisky, 1997. "What Is Sustainable Development?," Land Economics, University of Wisconsin Press, vol. 73(4), pages 467-491.
    7. Constant, Karine & Nourry, Carine & Seegmuller, Thomas, 2014. "Population growth in polluting industrialization," Resource and Energy Economics, Elsevier, vol. 36(1), pages 229-247.
    8. Robert J. Gordon, 2002. "Technology and Economic Performance in the American Economy," NBER Working Papers 8771, National Bureau of Economic Research, Inc.
    9. Théophile T. Azomahou & Tapas Mishra & Mamata Parhi, 2015. "Economic Growth under Stochastic Population and Pollution Shocks," Manchester School, University of Manchester, vol. 83(3), pages 314-345, June.
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