Externality or sustainability economics?
In an effort to develop "sustainability economics" Baumgärtner and Quaas (2010) neglect the central concept of environmental economics-"environmental externality". This note proposes a possible connection between the concepts of environmental externality and sustainability. In addition, attention is asked for other aspects of "sustainability economics", namely the distinction weak/strong sustainability, spatial sustainability and sustainable trade, distinctive sustainability policy, and the ideas of early "sustainability economists". I argue that both sustainability and externalities reflect a systems perspective and propose that effective sustainability solutions require that more attention is given to system feedbacks, notably other-regarding preferences and social interactions, and energy and environmental rebound. The case of climate change and policy is used to illustrate particular statements. As a conclusion, a list of 20 insights and suggestions for research is offered.
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- Costanza, Robert & Perrings, Charles, 1990. "A flexible assurance bonding system for improved environmental management," Ecological Economics, Elsevier, vol. 2(1), pages 57-75, April.
- Stefan Baumgärtner & Martin F. Quaas, 2009.
"What is sustainability economics?,"
Working Paper Series in Economics
138, University of Lüneburg, Institute of Economics.
- Daly, Herman E., 1992. "Allocation, distribution, and scale: towards an economics that is efficient, just, and sustainable," Ecological Economics, Elsevier, vol. 6(3), pages 185-193, December.
- Fabio Grazi & Jeroen Bergh & Piet Rietveld, 2007. "Spatial welfare economics versus ecological footprint: modeling agglomeration, externalities and trade," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 38(1), pages 135-153, September.
- Hartwick, John M, 1977.
"Intergenerational Equity and the Investing of Rents from Exhaustible Resources,"
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American Economic Association, vol. 67(5), pages 972-74, December.
- John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers 220, Queen's University, Department of Economics.
- Unruh, Gregory C., 2002. "Escaping carbon lock-in," Energy Policy, Elsevier, vol. 30(4), pages 317-325, March.
- van den Bergh, Jeroen C. J. M. & Ferrer-i-Carbonell, Ada & Munda, Giuseppe, 2000. "Alternative models of individual behaviour and implications for environmental policy," Ecological Economics, Elsevier, vol. 32(1), pages 43-61, January.
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- van den Bergh, Jeroen C. J. M., 2004. "Optimal climate policy is a utopia: from quantitative to qualitative cost-benefit analysis," Ecological Economics, Elsevier, vol. 48(4), pages 385-393, April.
- Common, Mick & Perrings, Charles, 1992. "Towards an ecological economics of sustainability," Ecological Economics, Elsevier, vol. 6(1), pages 7-34, July.
- Perrings, Charles, 1989. "Environmental bonds and environmental research in innovative activities," Ecological Economics, Elsevier, vol. 1(1), pages 95-110, February.
- Herman E. Daly, 1968. "On Economics as a Life Science," Journal of Political Economy, University of Chicago Press, vol. 76, pages 392.
- Stern, David I., 1997. "Limits to substitution and irreversibility in production and consumption: A neoclassical interpretation of ecological economics," Ecological Economics, Elsevier, vol. 21(3), pages 197-215, June.
- repec:cup:cbooks:9780521322249 is not listed on IDEAS
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