Evaluation of two trends in environmental economics: the neoclassical school and the economics of survival

Charles C. Mueller ()

Brazilian Journal of Political Economy, 1998, vol. 18, issue 2, 278-303

Abstract: It is possible to evaluate the main schools of thought in environmental economicsbased on a stylized view of sustainable development. This view considers that is sustainablethe development that assures: at least the maintenance of the level of well-being of the currentgeneration of inhabitants of the first world; an increase in the well-being of the presentgeneration inhabiting the poor countries; and, the ability of the future generations to maintainor improve their well-being. ln principle, a school of thought in environmental economics shouldconsider these three aspects; however, some emphasize one, others stress another of these aspects.Based on a framework founded on the above concept of sustainable development, the paperpresents an evaluation of two of these schools of thought: neoclassical environmental economics, emphasizing the short term and industrialized market economies; and a school which could betermed the economy of survival, emphasizing the very long term. It begins with a discussion ofthe recent insertion of the environmental dimension in economics, follows with a review of theconcept of sustainable development, which is adapted for the evaluation. It concludes with adiscussion of the main contribution of the two schools, and of the main contrasts between them. JEL Classification: B29; B21; B59; Q50.

Keywords: Ecological economics; sustainable development; history of economic thought (search for similar items in EconPapers)
Date: 1998
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