Which direction for sustainable development? A time series comparison of the impacts of redistributive versus market policies in Bolivia and South Korea

Karen Bell, Jason Hickel, Rob Arbon and Huzaifa Zoomkawala

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This article examines two major policy frameworks for achieving sustainable development: the market-based ‘Green Economy’ approach (exemplified by South Korea), and the redistributive ‘Living Well’ approach (exemplified by Bolivia). We compare the two paradigms in qualitative terms using document analysis, and we assess quantitatively how they have fared in terms of delivering progress towards sustainable development in each country. Time series data for the Sustainable Development Index and the Gini index were examined. The results show that, since ‘Living Well’ was initiated, social outcomes have continued to improve in Bolivia and, while emissions and material footprint have increased, they remain low and within or near sustainable boundaries. By contrast, South Korea has regressed in terms of sustainability. Social indicators have improved, but the Green Economy policy has failed to reduce ecological pressures. This raises significant questions about the legitimacy of the Green Economy paradigm as a model for achieving sustainable development.

Keywords: economic growth; environmental policy; equity; socialism; sustainability transitions; well-being (search for similar items in EconPapers)
JEL-codes: D63 H23 O40 Q01 Q56 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2023-10-03
New Economics Papers: this item is included in nep-env
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Published in Sustainable Development, 3, October, 2023, 31(5), pp. 3408 - 3427. ISSN: 0968-0802

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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:125896

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