28 March 2003

Interpreting Sustainability in Economic Terms

Sustainability ≡ Dynamic Efficiency + Intergenerational Equity

Abstract:

Economists have confined the concept of ‘sustainability’ to intertemporal distributional equity. We propose a broader definition, combining dynamic efficiency and intergenerational equity, and relate it to two concepts from neoclassical economics: potential Pareto-improvements and inter-personal compensation.

Published paper: "Interpreting Sustainability in Economic Terms: Dynamic Efficiency Plus Intergenerational Equity" (full text)

The Climate Policy Pendulum

Although US President-elect Donald Trump and his fellow Republicans give climate advocates plenty to worry about, all hope is not lost. Clean-energy technologies still have decisive physical advantages over the alternatives, and economic common sense will eventually win out.

16 Jan 25

Climate change is both predictable and unpredictable. We don't need certainty to know it's a crisis

The next climate disaster is sure to come. When and where is the question

1 May 25

Synthesis of evidence yields high social cost of carbon due to structural model variation and uncertainties

by Frances C. Moore, Moritz A. Drupp, James Rising, Simon Dietz, Ivan Rudik & Gernot Wagner

17 Dec 24