Sustainable Development and the Precautionary Principle: the Australian Experience
Sustainable development has (SD) been an important objective promoted by many development economists during the last few decades. However, the implementation of sustainable development has been a problem since adequate guidelines are not available. This is specially so in the use of environmental resources such as water, soil, land etc. The precautionary principle has been advanced as one way of making decisions on sustainable use of resources under uncertainty and irreversibility. However, the precautionary principle has encountered numerous problems in applying it in Australia such as lack of legal status, lack of information and lack of adequate methods of quantifying damages. It has not been uniformly applied and incorporating it in law and providing stronger policy support may enhance its’ wider use for the conservation of natural resources and the achievement of sustainable development.
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References listed on IDEAS
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- Musselwhite, Gary & Herath, Gamini, 2005. "Australia's regional forest agreement process: analysis of the potential and problems," Forest Policy and Economics, Elsevier, vol. 7(4), pages 579-588, May.
- Nick Hanley, 1990.
"Are There Environmental Limits to Cost Benefit Analysis?,"
Working Papers Series
90/6, University of Stirling, Division of Economics.
- Nick Hanley, 1992. "Are there environmental limits to cost benefit analysis?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 2(1), pages 33-59, January.
- Gollier, Christian & Jullien, Bruno & Treich, Nicolas, 2000. "Scientific progress and irreversibility: an economic interpretation of the 'Precautionary Principle'," Journal of Public Economics, Elsevier, vol. 75(2), pages 229-253, February.
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