Sector-Level Decisions in a Sustainability-Constrained Economy
Despite two decades of debate, there remains little consensus about what sustainability is, and how it should be achieved. Economists primarily portray sustainability as a macro-level concern, but there has been less attention on the implications of this social objective for policies related to the management of individual resources. This paper derives guidance for sector-level planning and project analysis from a macro-level norm of intergenerational fairness. Optimal sustainable management involves making tradeoffs between sectors. We derive a criteria for sector-level planning and project analysis that help make those tradeoffs without losing site of the sustainability goal.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Guillermo Calvo, 1978. "Some Notes on Time Inconsistency and Rawls' Maximin Criterion," Review of Economic Studies, Oxford University Press, vol. 45(1), pages 97-102.
- Asheim,G.B. & Buchholz,W. & Tungodden,B., 1999.
08/1999, Oslo University, Department of Economics.
- Richard B. Howarth, 1995. "Sustainability under Uncertainty: A Deontological Approach," Land Economics, University of Wisconsin Press, vol. 71(4), pages 417-427.
- Michael C. Farmer & Alan Randall, 1997. "Policies for Sustainability: Lessons from an Overlapping Generations Model," Land Economics, University of Wisconsin Press, vol. 73(4), pages 608-622.
- Bromley, Daniel W., 1989. "Entitlements, missing markets, and environmental uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 17(2), pages 181-194, September.
- Jean-Paul Chavas, 1994. "Equity Considerations in Economic and Policy Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(5), pages 1022-1033.
- John Hartwick, 1976.
"Intergenerational Equity and the Investing of Rents from Exhaustible Resources,"
220, Queen's University, Department of Economics.
- Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-74, December.
- Partha Dasgupta & Geoffrey Heal, 1974. "The Optimal Depletion of Exhaustible Resources," Review of Economic Studies, Oxford University Press, vol. 41(5), pages 3-28.
- Avinash Dixit & Peter Hammond & Michael Hoel, 1980. "On Hartwick's Rule for Regular Maximin Paths of Capital Accumulation and Resource Depletion," Review of Economic Studies, Oxford University Press, vol. 47(3), pages 551-556.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:79:y:2003:i:1:p:1-14. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.