The paper proposes two axioms that capture the idea of sustainable development and derives the welfare criterion that they imply. The axioms require that neither the present nor the future should play a dictatorial role. Theorem 1 shows there exist sustainable preferences, which satisfy these...

This chapter focuses on how the lack of property rights in North-South trade of primary resources can distort trade and threaten the sustainablility of development. This issue is examined within a two-region world economy where one region, the North, represents the industrial countries, and the...

This paper examines the role of the international market in mediating North-South relations and analyzes how the market works in distributing the gains from trade. It is argued that the international market does not always provide an adequate engine of growth for the South if that region...

A conference report on UNESCO and Fundacion Bariloche sponsored conference with policy-oriented scientists from Africa, Europe, Latin America, and the United States of December 1976. The focus was on global modelling, its formalization and reliability. The applications were to problems of...

The present acceleration of environmental destruction can be linked to the economic trading strategies that came into vogue after World War II. The theory of comparative advantages of trade, which recommends that developing countries emphasize resource exports and exports of labor-intensive...

The concept of basic needs is today at the center of many discussions about development and the international order. Some international organizations are rethinking their prior evaluation of development policies based largely on aggregate economic output, in particular, the welfare of the very...

This paper focuses on an economic aspect of the disarmament question: the international market of armaments. I shall explore the thesis that arms trade is an increasingly important factor in North-South economic relations, that it affects not only international trade patterns, but also through...

We consider here optimal use patterns for renewable resources and address the problem of optimal use of renewable resources under a variety of assumptions both about the nature of the economy in which these resources are embedded and about the objective of that economy. Although we focus here on...

Economics often provides the wrong incentives to those who control the assets, such as people in developing countries where most forests are located and who could potentially benefit most from conservation . There is increasing unease about this situation, and an emerging view is that standard...