Is development sustainable? When addressing the sustainability issue, decision-makers are faced with two challenges: taking into account conflicting issues, such as economic development and environmental preservation, while also ensuring intergenerational equity. Tackling these challenges amounts to deciding what should be bequeathed to future generations, especially in terms of natural resources.
This open access book discusses the challenges and opportunities faced by companies in an age that increasingly values sustainability and demands corporate responsibility. Beginning with the historical development of corporate responsibility, this book moves from academic theory to practical application. It points to ways in which companies can successfully manage their transition to a more responsible, sustainable way of doing business, common mistakes to avoid and how the UN Sustainable Development Goals are integral to any sustainability transformation. Practical cases illustrate key points. Drawing on thirty years of sustainability research and extensive corporate experience, the author provides tools such as a Step-by-Step strategic guide on integrating sustainability in collaboration with stakeholders including employees, customers, suppliers and investors. The book is particularly relevant for SMEs and companies operating in emerging markets. From a broader perspective, the value of externalities, full cost pricing, alternative economic theories and circular economy are also addressed.
There is widespread concern for long-term environmental issues in relation to economic processes and developments. Among the concerned scientists are economists, who have taken up the challenge to apply economic insights and tools for the study of long-term environment-economy interactions, and to give the concept of sustainable development 'economic hands and feet'. This book presents a pluralistic perspective on efforts, problems and successes in this area. This collection of papers was originally prepared for an international symposium titled Economic Modelling of Sustainable Development: Between Theory and Practice, which was hosted by the Vrije Universiteit in Amsterdam, on December 20th 1996. The main motivation for this symposium was that the usefulness of the concept of sustainable development for theoretical and applied modelling is still being debated; growth theorists, resource economists, ecological economists, policy makers and many others are trying to deal with the concept in various, and sometimes conflicting, ways. The aim of the symposium was to bring together different theoretical and implementational perspectives on modelling for sustainable development. We hope that this volume will inform a wide audience about the perspectives and progress in this important area of research, as well as stimulate further research, notably on applied modelling and practical methods for the analysis of sustainable development at various (spatial) scales. The papers have, in due course, been revised several times based on comments made by discus sants, referees and the editors.
Heal presents a coherent framework for understanding the Earth's future from an economic perspective and offers a dynamic new blueprint for comprehending sustainability.
Why do some countries' economies struggle to develop, even when they are the focus of so much research and international funding? While recognizing that the obstacles facing poor nations are many and complex, Rabie proposes that the roots of most obstacles are sociocultural; thus, sociocultural transformation and economic restructuring can only be successful when treated as interconnected, mutually beneficial objectives. A Theory of Sustainable Sociocultural and Economic Development outlines an innovative model capable of identifying the major obstacles hindering poor nations' development in general, and the sociocultural and political obstacles in particular, placing them in their proper historical contexts, and addressing them comprehensively.
This new edition of "Environmental and Natural Resources Economics" provides an accessible yet rigorous treatment of the subject, including the economics of sustainability. The new edition has been updated extensively throughout. A new chapter has been added on fisheries economics and policy, and the chapter on global climate change has been substantially rewritten to incorporate new scientific information and evolving public policy. Many new figures and tables have been added, and the glossary has also been expanded. Readers will appreciate the balanced and accessible coverage, and the integration of economics with science and public policy.
This multidisciplinary book provides new insights and hope for sustainable prosperity given recent developments in economics – but only if swift and strong actions consistent with Earth’s biophysical limits and principles of justice are universally taken. It is one thing to put limits on resource throughput and waste generation to conform with the ecosphere’s biocapacity. It is another thing to efficiently allocate a sustainable rate of resource throughput and ensure it is equitably distributed in the form of final goods and services. While the separate but interdependent decisions regarding throughput, distribution, and allocation are the essence of ecological economics, dealing with them in a world that needs to cure its growth addiction requires a realistic understanding of macroeconomics and the fiscal capacity of currency-issuing central governments. Sustainable prosperity demands that we harness this understanding to carefully regulate the rate of resource throughput and manipulate macroeconomic outcomes to facilitate human flourishing. The book begins by outlining humanity’s current predicament of gross ecological overshoot and laments the half-century of missed opportunities since The Limits to Growth (1972). What was once economic growth has become, in many high-income countries, uneconomic growth (additional costs exceeding additional benefits), which is no longer advancing wellbeing. Meanwhile, low-income nations need a dose of efficient and equitable growth to escape poverty while protecting their environments and the global commons. The book argues for a synthesis of our increasing knowledge of the ecosphere’s limited carrying capacity and the power of governments to harness, transform, and distribute resources for the common good. Central to this synthesis must be a correct understanding of the difference between financial constraints and real resource constraints. While the latter apply to everyone, the former do not apply to currency-issuing central governments, which have much more capacity for corrective action than mainstream thinking perceives. The book joins the growing chorus of authoritative voices calling for a complete overhaul of the dominant economic system. We conclude with policy recommendations based on a new economics that, if implemented, would come close to guaranteeing a sustainable and prosperous future. Upon reading this book, at least one thing should be crystal clear: business as usual is not a viable option.
This book explores the present conflictual relationship between the economy, the environment, and society. The current mainstream economic model is analysed from the perspective of the founding economists to review its suitability to tackle issues of sustainable development. The problems of redistribution and social justice are debated at length; alongside those concerning the giant state, degrowth, and a vision of sustainability that is founded on the idea of a self-regulating free market economy. Business cycle sustainability, anti-crisis therapy, technological unemployment, the natural rate of interest, and the Bruntland matrix are also examined. This book aims to present a holistic approach to sustainable development where social, ecological, and economic components are balanced. It will be relevant to students and researchers interested in this topic.
The unprecedented advances in economic development witnessed over the past decades cannot continue if economic progress comes at the expense of the natural environment. The Sustainable Development Goals, agreed globally in 2015, define a vision of human development where economic, social and environmental domains interact to shape the prospects for future prosperity. This timely collection highlights the contribution of economics to the study of sustainable development. It brings together in one volume some of the most influential articles on the topic by economists over the past fifty years. Environmental sustainability, an inherently interdisciplinary topic, is analysed from the perspectives of applied microeconomics, environmental and resource economics, ecological economics, development economics and public economics. Together with an original introduction by the editors, this volume is indispensable for anyone interested or working in the field.
