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A Sketch of Environmental Macroeconomics

In: Economics for Environmental Studies

Author

Listed:
  • Alfred Endres

    (University of Hagen)

  • Volker Radke

    (State University Ravensburg)

Abstract

The neoclassical assumption of unlimited growth possibilities has been questioned by, among others, the Club of Rome, by hinting at the exhaustability of natural productive stocks. The neoclassical rejection of the assumption of natural limits to growth rests on the possibility to substitute for declining natural productive stocks by investing in man-made capital in order to ensure intergenerational justice. The latter is interpreted as constant consumption of goods over time. The idea of intergenerational justice forms the base for the concept of sustainable development, which is, controversially, discussed. Both the flow indices and the stock indices of the SNA have been criticized for neglecting important contributions of the natural environment. As a response to this critique, the United Nations’ System of Integrated Environmental and Economic Accounting (SEEA) is presented. Both the SEEA and various other approaches of integrating the natural environment into national accounting are assessed with regard to their ability to measure progress toward sustainable development.

Suggested Citation

  • Alfred Endres & Volker Radke, 2012. "A Sketch of Environmental Macroeconomics," Springer Texts in Business and Economics, in: Economics for Environmental Studies, edition 127, chapter 10, pages 139-164, Springer.
    • Handle: RePEc:spr:sptchp:978-3-642-31193-2_10
    DOI: 10.1007/978-3-642-31193-2_10
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