Weak versus Strong Sustainability

Weak versus Strong Sustainability

Exploring the Limits of Two Opposing Paradigms, Third Edition

Eric Neumayer

This insightful book explores the limits of the two opposing paradigms of sustainability in an accessible way. It examines the availability of natural resources for the production of consumption goods and services, and the environmental consequences of economic growth. The critical forms of natural capital in need of preservation given risk, uncertainty and ignorance about the future are also examined. The author provides a critical discussion of measures of sustainability. As indicators of weak sustainability, he analyses Genuine Savings and the Index of Sustainable Economic Welfare, also known as the Genuine Progress Indicator. Indicators of strong sustainability covered include ecological footprints, material flows, sustainability gaps and other measures, which combine the setting of environmental standards with monetary valuation.

Variables

Eric Neumayer

Subjects: environment, ecological economics, environmental geography, geography, human geography

Extract

A AC C D E F G GS H K L M ME N P R RC S S1 T U X Z a b c d e f g h Pollution abatement A verage resource extraction costs Consumption Cost function Resource discoveries Harvest of renewable resources Production function 'Human induced' growth of renewable resources 'Genuine saving' Hotelling rent Hamiltonian Stock of man-made capital Labour Stock of human capital Share of energy in total production costs Investment in human capital Stock of pollution Price Resource depletion Resource receipts Stock of non-renewable resources Sustainable income Time variable Utility function Stock of accumulated resource discoveries Stock of renewable resources Natural growth function (renewable resources) Natural restoration function (pollution) Exponent in production function Exponent in production function Exponent in production function Expenditure function for norrrenewable resource extraction Expenditure function for resource exploration Expenditure function for renewable resource harvesting x xi Variables j k m n p q r s u v w z 1t 0' (l ~ y A Il (0 ~ \i' ~ p 11 r Expenditure function for pollution abatement Expenditure function for investment into human capital Rate of 'resource augmenting' technical progress Rate of Hicks-neutral technical progress Reserves to production ratio Exponent in production function Exponent in production function Rate of interest Discount rate Exponent in production function Time index A verage rate of consumption growth Parameter Parameter Static reserve index Profit Elasticity of substitution Elasticity of output with respect to man-made capital Parameter Elasticity of output with respect to non-renewable resources Parameter...