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Sustainability or the measurement of wealth?

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  • Cairns, Robert D.

Abstract

The theoretical definitions of sustainability proposed in EDE's recent symposium, Sustainability and the Measurement of Wealth, are useful for measuring national wealth but not for measuring sustainability. Moreover, because they are based on market prices and extensions to them, the empirical estimates are not indicators of sustainability. Sustainable development is defined and a theoretic indicator is proposed using maximin theory.

Suggested Citation

  • Cairns, Robert D., 2013. "Sustainability or the measurement of wealth?," Environment and Development Economics, Cambridge University Press, vol. 18(5), pages 640-648, October.
  • Handle: RePEc:cup:endeec:v:18:y:2013:i:05:p:640-648_00
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    Cited by:

    1. Cairns, Robert D. & Del Campo, Stellio & Martinet, Vincent, 2019. "Sustainability of an economy relying on two reproducible assets," Journal of Economic Dynamics and Control, Elsevier, vol. 101(C), pages 145-160.
    2. Géraldine THIRY & Philippe ROMAN, 2015. "L’indice de richesse inclusive : l’économie Mainstream au-delà de ses limites, mais en deçà de la soutenabilité ?," LIDAM Discussion Papers IRES 2015001, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    3. Patenema Ouedraogo, 2022. "The Impact Of Public Debt On The Sustainability Of The Economy," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 16(1), pages 334-350.
    4. Roman, Philippe & Thiry, Géraldine, 2016. "The inclusive wealth index. A critical appraisal," Ecological Economics, Elsevier, vol. 124(C), pages 185-192.
    5. Engelbrecht, Hans-Jürgen, 2016. "Comprehensive versus inclusive wealth accounting and the assessment of sustainable development: An empirical comparison," Ecological Economics, Elsevier, vol. 129(C), pages 12-20.
    6. Edward B. Barbier, 2016. "The Protective Value of Estuarine and Coastal Ecosystem Services in a Wealth Accounting Framework," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(1), pages 37-58, May.

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