Growth and the environment in the era of globalization
Abstract
This chapter examines the issue of sustainability and its compatibility with economic growth, starting from a taxonomy of natural goods classified according to their appropriability and renewability. While prices give signals about the scarcity of non-renewable and appropriable resources that can lead economic agents to replace them with substitute resources, there is an even more serious problem with non-appropriable and minimally renewable resources, such as the climate.
The chapter examines the effectiveness of the traditional solutions of regulation and Pigovian taxes, as well as the contributions of more recent tools and initiatives, such as emission reduction ...
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