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A regulatory framework for a policy of sustainability: lessons from the neo-liberal school

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  • Rennings, Klaus
  • Koschel, Henrike
  • Brockmann, Karl Ludwig
  • Kuhn, Isabel

Abstract

In 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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  • 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.
  • Handle: RePEc:eee:ecolec:v:28:y:1999:i:2:p:197-212
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    References listed on IDEAS

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    1. Rennings, Klaus & Wiggering, Hubert, 1997. "Steps towards indicators of sustainable development: Linking economic and ecological concepts," Ecological Economics, Elsevier, vol. 20(1), pages 25-36, January.
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    Cited by:

    1. Rentz, O. & Wietschel, M. & Dreher, Martin & Bräuer, W. & Kühn, Isabel, 2001. "Neue umweltpolitische Instrumente im liberalisierten Strommarkt. Endbericht. BW-Plus Forschungsvorhaben BW V 99004 a+b," ZEW Expertises, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research, number 110494, April.
    2. Patricia S. Sánchez-Medina & Jack Corbett & Arcelia Toledo-López, 2011. "Environmental Innovation and Sustainability in Small Handicraft Businesses in Mexico," Sustainability, MDPI, Open Access Journal, vol. 3(7), pages 1-19, July.
    3. Rennings, Klaus, 1998. "Towards a Theory and Policy of Eco-Innovation - Neoclassical and (Co-)Evolutionary Perspectives," ZEW Discussion Papers 98-24, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

    More about this item

    JEL classification:

    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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