Unlocking Win-Win Opportunities for Economy, Environment, and Social Welfare
The article discusses how sustainable resource use and development can be achieved from an economic perspective. It explains that dynamic efficiency is key for sustainability of renewable resources, and that focusing on intergenerational equity can lead to overall sustainability. Ad hoc sustainability rules may not always benefit human welfare. The article also explores the challenges of extending economic sustainability to different areas and times, and highlights the importance of finding optimal ways to preserve renewable resources. Mandates based on moral imperatives may not always lead to the best outcomes for both the economy and the environment.