Sustainability or the measurement of wealth?

Robert Cairns

Environment and Development Economics, 2013, vol. 18, issue 5, 640-648

Abstract: The theoretical definitions of sustainability proposed in EDE's recent symposium, Sustainability and the Measurement of Wealth, are useful for measuring national wealth but not for measuring sustainability. Moreover, because they are based on market prices and extensions to them, the empirical estimates are not indicators of sustainability. Sustainable development is defined and a theoretic indicator is proposed using maximin theory.

Date: 2013
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