Overview
For the most part, requiring only a basic knowledge and understanding of economics, this accessible book will ensure the important theoretical and empirical debates surrounding sustainable development are available for a wide audience including undergraduate and postgraduate students of environmental and ecological economics. It will also be of interest to researchers and policymakers involved in the sustainable management of environmental resources.Synopsis
Weak sustainability, based on the work of neoclassical economists Robert Solow and John Hartwick, posits that sustainability is predicated on the aggregate stock of man- made and natural capital, while proponents of strong sustainability insist argue that natural capital cannot be substituted with other forms of capital. Neumayer (environment and development, London School of Economics and Political Science, UK) tests both paradigms' validity, concluding that they can't be falsified. He then examines issues of measurement for both paradigms. Annotation ©2004 Book News, Inc., Portland, OR
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Neumayer (environment and development, London School of Economics and Political Science) assesses whether science can unambiguously endorse either the weak approach, which argues that capital generated by humans can be substituted for natural capital and still maintain long-term sustainability, and the strong approach that it cannot. He argues that neither paradigm is universally correct and that certain forms of natural capital are non sustainable; explores the extent to which, at what cost, certain forms of natural capital should be preserved; and inquires whether sustainability can be measured at all and doubts a monetary measure will suffice. Annotation c. Book News, Inc., Portland, OR (booknews.com)