The poverty of sustainability: rescuing economics from platitudes

摘要

The idea of sustainability has become confused and incoherent. If sustainability is to regain a plausible pertinence to economic policy it must be understood to encompass two realms: (1) human interaction with nature; and (2) human interaction with others with respect to their interaction with nature. The on-going redefinition of the purposes of nature requires that institutions— norms, rules-property regimes—undergo constant evolution so that human action conduces to nondestructive action. Cautionin the social realm is the greatest risk to environmental sustainability.