Edited by Angus Morrison-Saunders, Jenny Pope and Alan Bond
Chapter 3: The economics of sustainable development
Central to sustainability assessment is the concept of sustainable development – a term on which there is no single, agreed definition. One very important interpretation is that made by economists, given the importance placed on economic implications by decision makers. The purpose of this chapter is, thus, to set out the economics of sustainable development to set the context for consideration of the economic pillar of sustainable development within sustainability assessment, and to detail how economists have grappled with the concept and the tools they have derived to measure progress towards sustainable development.
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