Sector-Level Decisions in a Sustainability-Constrained Economy

Richard Woodward and Richard C. Bishop

Land Economics, 2003, vol. 79, issue 1, 1-14

Abstract: Despite two decades of debate, there remains little consensus about what sustainability is, and how it should be achieved. Economists primarily portray sustainability as a macro-level concern, but there has been less attention on the implications of this social objective for policies related to the management of individual resources. This paper derives guidance for sector-level planning and project analysis from a macro-level norm of intergenerational fairness. Optimal sustainable management involves making tradeoffs between sectors. We derive a criteria for sector-level planning and project analysis that help make those tradeoffs without losing site of the sustainability goal.

JEL-codes: Q30 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (4)

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