The Sustainability of Economic Growth

Geoffrey Heal

A chapter in Is Economic Growth Sustainable?, 2010, pp 1-9 from Palgrave Macmillan

Abstract: Abstract Is growth sustainable? There is probably not a more important or timely economic question. As the chapters in this volume were completed, an era of economic growth was coming to an end. It ended not because of reasons related to the normal sustainability issues of environmental degradation or climate change, but because of poor assessment of risks and massive indebtedness in the United States. Nevertheless, its ending showed that even without concerns relating to the environment, growth may not be sustainable. But the focus of this book is on longer-term issues, on the sustainability of growing living standards over the long term, decades or even centuries. The focus is on problems that could stop our economies even if we manage our macroeconomic policies perfectly and avoid the errors that have traditionally brought periods of expansion to a halt.

Keywords: Ecosystem Service; Nash Equilibrium; Capital Stock; Socially Responsible Investment; Natural Capital (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-0-230-27428-0_1

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DOI: 10.1057/9780230274280_1

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