Weak versus strong sustainability : exploring the limits of two opposing paradigms / Eric Neumayer (Professor of Environment and Development, Vice President (Planning and Resources), Deputy President and Vice Chancellor, London School of Economics and Political Science, UK).

Format:

Book

Author/Creator:

Neumayer, Eric, 1970- author.

Contributor:

Edward Elgar Publishing, publisher.

Language:

English

Subjects (All):

Sustainable development.

Economic development--Environmental aspects.

Economic development.

Neoclassical school of economics.

Physical Description:

1 online resource (248 pages)

Edition:

Fifth edition.

Place of Publication:

Northampton : Edward Elgar Publishing, 2025.

Summary:

"This newly and fully revised fifth edition explores the two opposing paradigms of sustainability in an insightful and accessible way. Eric Neumayer contends that central to the debate on sustainable development is the question of whether natural capital can be substituted by other forms of capital. Proponents of weak sustainability maintain this is possible, whilst followers of strong sustainability regard natural capital as non-substitutable. Using global warming and other major environmental issues as examples, he shows how policies and solutions radically differ depending on which paradigm is more plausible. Neumayer examines the availability of natural resources for producing goods and services and the environmental consequences of economic growth. He identifies the critical forms of natural capital in need of preservation given uncertainty about the future and opportunity costs of preservation. This edition incorporates new developments such as safe operating spaces within planetary boundaries to deal with uncertainty and ignorance. The book also provides a critical assessment of sustainability measures. It analyses weak sustainability measures such as the Change in Total Wealth Per Capita and the Index of Sustainable Economic Welfare (also known as the Genuine Progress Indicator) as well as strong sustainability indicators including Ecological Footprints, Material Flows and the Strong Environmental Sustainability Index. This seminal book will prove essential reading for students, scholars and policymakers with an interest in ecological and environmental economics and sustainable development"-- Provided by publisher.

Contents:

Contents: Preface to the fifth edition

1. Introduction and overview

2. Sustainable development: Conceptual, ethical, and paradigmatic foundations

3. Resources, the environment, and economic growth: Is natural capital substitutable?

4. Preserving natural capital in a world of risk, uncertainty, and ignorance

5. Measuring weak sustainability

6. Measuring strong sustainability

7. Conclusions

Appendix 1: How present-value maximisation can lead to extinction

Appendix 2: The hotelling rule and ramsey rule in a simple general equilibrium model

Bibliography

Index.

Notes:

Creative Commons Attribution - NonCommercial - NoDerivatives 4.0 International CC BY-NC-ND 4.0 cc https://creativecommons.org/licenses/by-nc-nd/4.0/

Description based on print record.