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The world budget constraint

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  • Theodore Lianos

Abstract

The fact the resources of the earth are limited implies a budget constraint for the world economy, under the assumption of preserving the natural capital. Using recent data on the ecological footprint, the world product, and population, it is estimated that we are currently located in a non-feasible area. It is also estimated that if the present level of per capita product is to be sustained, the size of the world population must be reduced to 2.5 billion people. Given our natural resource endowment and the relationship between material income and happiness, suggested in recent research, there appears to be an obvious need for reconsidering our lifestyles, our consumption patterns, and our policies for population reduction. Copyright Springer Science+Business Media Dordrecht 2013

Suggested Citation

  • Theodore Lianos, 2013. "The world budget constraint," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 15(6), pages 1543-1553, December.
    • Handle: RePEc:spr:endesu:v:15:y:2013:i:6:p:1543-1553
    DOI: 10.1007/s10668-013-9460-2
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    2. Rafael Laurenti & Jagdeep Singh & Rajib Sinha & Josepha Potting & Björn Frostell, 2016. "Unintended Environmental Consequences of Improvement Actions: A Qualitative Analysis of Systems' Structure and Behavior," Systems Research and Behavioral Science, Wiley Blackwell, vol. 33(3), pages 381-399, May.
    3. Theodore P. Lianos, 2017. "A Market for Human Reproduction Rights," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 15(1), pages 7-13.
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    5. Lukas Figge & Kay Oebels & Astrid Offermans, 2017. "The effects of globalization on Ecological Footprints: an empirical analysis," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 19(3), pages 863-876, June.
    6. Trumbo, Jennifer L. & Tonn, Bruce E., 2016. "Biofuels: A sustainable choice for the United States' energy future?," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 147-161.

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