The Place of Nature in Economic Development

In this chapter both theory and empirics are used to show that our picture of the processes of economic development changes radically when nature is introduced as a capital asset. Particular features of institutions that fashion societies' use of the natural-resource base are identified and analyzed. It is also shown that conventional measures of human welfare are inadequate for identifying sustainable development.

MoreLess

Authors:	Dasgupta, Partha
Other Persons:	Rodrik, Dani (contributor) ; Rosenzweig, Mark (contributor)
Published in:	Handbook of Development Economics.
Subject:	sustainable development \| wealth \| externalities \| common property resources \| global public goods \| climate change \| social discount rates \| environmental risks \| shadow prices \| natural capital

More details

Type of publication:	Article
Classification:	D6 - Welfare Economics ; H1 - Structure and Scope of Government ; I3 - Welfare and Poverty ; O1 - Economic Development ; O4 - Economic Growth and Aggregate Productivity ; Q2 - Renewable Resources and Conservation; Environmental Management ; Q5 - Environmental Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010700812