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Flashcards in Economics Of Sustainable Development Deck (5)
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1
Q

Sustainable Economic Growth

A

Increase in GDP that can be sustained into the future

2
Q

Sustainable Economic Development

A
  • An increase in utility or well-being that can be sustained in the future
  • does not decrease the capacity to provide at least the same level of utility or well-being in the future
  • inter-generational equity
3
Q

What is Weak Sustainability

A
  • Optimistic view to natural resource use
  • Built on the assumption of substitutability of natural capital
  • As income rises, the state of the environment also improves
4
Q

What is the Strong Sustainability view?

A
  • Pessimistic and cautious about deprecating natural stocks - Natural capital
  • non-substitutability through other forms of capital
  • wish to stay at the natural capacity of the environment
  • extract enough such that there are plenty left for future generations to use for their economic development
5
Q

How can you measure weak sustainability?

A

Genuine savings:

GS = investment into total capital - Depreciation of total capital