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The world budget constraint

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  • Theodore Lianos

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Abstract

The fact the resources of the earth are limited implies a budget constraint for the world economy, under the assumption of preserving the natural capital. Using recent data on the ecological footprint, the world product, and population, it is estimated that we are currently located in a non-feasible area. It is also estimated that if the present level of per capita product is to be sustained, the size of the world population must be reduced to 2.5 billion people. Given our natural resource endowment and the relationship between material income and happiness, suggested in recent research, there appears to be an obvious need for reconsidering our lifestyles, our consumption patterns, and our policies for population reduction. Copyright Springer Science+Business Media Dordrecht 2013

Suggested Citation

  • Theodore Lianos, 2013. "The world budget constraint," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 15(6), pages 1543-1553, December.
  • Handle: RePEc:spr:endesu:v:15:y:2013:i:6:p:1543-1553
    DOI: 10.1007/s10668-013-9460-2
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    References listed on IDEAS

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    1. Carleton Schade & David Pimentel, 2010. "Population crash: prospects for famine in the twenty-first century," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 12(2), pages 245-262, April.
    2. Timothy W. Guinnane, 2011. "The Historical Fertility Transition: A Guide for Economists," Journal of Economic Literature, American Economic Association, vol. 49(3), pages 589-614, September.
    3. Theodore Panayotou, 2000. "Population and Environment," CID Working Papers 54, Center for International Development at Harvard University.
    4. Arrow, Kenneth & Bolin, Bert & Costanza, Robert & Dasgupta, Partha & Folke, Carl & Holling, C.S. & Jansson, Bengt-Owe & Levin, Simon & Mäler, Karl-Göran & Perrings, Charles & Pimentel, David, 1996. "Economic growth, carrying capacity, and the environment," Environment and Development Economics, Cambridge University Press, vol. 1(01), pages 104-110, February.
    5. Easterlin, Richard A, 2001. "Income and Happiness: Towards an Unified Theory," Economic Journal, Royal Economic Society, vol. 111(473), pages 465-484, July.
    6. Grégory Ponthière, 2003. "Utilitarian population ethics: a survey," CREPP Working Papers 0303, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
    7. David Pimentel, 2012. "World overpopulation," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 14(2), pages 151-152, April.
    8. Partha Dasgupta, 1995. "The Population Problem: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 33(4), pages 1879-1902, December.
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    Cited by:

    1. repec:seb:journl:v:15:y:2017:i:1:p:7-13 is not listed on IDEAS
    2. Theodore P. Lianos & Anastasia Pseiridis, 2016. "Sustainable welfare and optimum population size," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 18(6), pages 1679-1699, December.
    3. repec:spr:endesu:v:19:y:2017:i:3:d:10.1007_s10668-016-9769-8 is not listed on IDEAS
    4. Rafael Laurenti & Jagdeep Singh & Rajib Sinha & Josepha Potting & Björn Frostell, 2016. "Unintended Environmental Consequences of Improvement Actions: A Qualitative Analysis of Systems' Structure and Behavior," Systems Research and Behavioral Science, Wiley Blackwell, vol. 33(3), pages 381-399, May.
    5. Trumbo, Jennifer L. & Tonn, Bruce E., 2016. "Biofuels: A sustainable choice for the United States' energy future?," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 147-161.

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