Critically compare and contrast the idea of sustainable development with conventional neoclassical environmental economics
- According to our dominant neoclassical economics theory, environmental problems, closely related to the issue of poverty, can only be resolved within the concept of growth
- To ecologists, all resources, be they renewable or not, are exhaustible.
- Economists and ecologists views on sustainability
The earth is finite. Its ability to absorb wastes and destructive effluents is finite. Its ability to provide for the growing number of people is finite. And we are fast approaching many of the earth's limits. Current economic practices cannot be continued without the risk that global systems will be damaged beyond repair.' This quote is taken from a declaration published in The Times, and which has been signed by 1,575 scientists, including 99 Nobel Prize winners. It shows that more than ten years ago, there were already great concerns about the level of sustainability of our global system. Where do we stand today?