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Growth and sustainability

In: Handbook on the Economics of Climate Change

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  • Robin Hahnel

Abstract

The relationship between economic growth and environmental sustainability has been the subject of much controversy. Unfortunately, lack of precision in defining terms and failure to develop a suitable model for studying the issue have clouded understanding. This chapter (1) explains the crucial difference between growth of production of goods and growth of environmental throughput, (2) presents a model suitable for rigorously measuring changes in labour productivity and throughput efficiency, (3) formulates sufficient conditions for environmental sustainability, and thereby (4) clarifies how continued growth of production can be consistent with environmental sustainability. The chapter concludes with a brief discussion of what our conclusions imply about “steady-state†and “de-growth†economics, suggestions about how our conclusions can be extended to a real world where nature is heterogeneous and parts are non-renewable, and a few observations about climate change policy.

Suggested Citation

  • Robin Hahnel, 2020. "Growth and sustainability," Chapters, in: Graciela Chichilnisky & Armon Rezai (ed.), Handbook on the Economics of Climate Change, chapter 14, pages 296-309, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14656_14
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    Keywords

    Economics and Finance; Environment;

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