note on Module 4

note on Module 4 - Module4 11/12/201113:01:00

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Module 4  11/12/2011 13:01:00 Sustainability Issues and implications Solow speech: the word “Sustainability” use widely, is not taught thought, very  plastic Very vague as to meaning and implication   Eg. Sustainable transport very vague, what is sustainable really mean?  Ehrlich said is not very useful but not useless Robert Solow  The obligation Notion of sustainability – long run  What is sustainability ‘s obligation? What is the obligation? What implications does this obligation entail? How to fulfill the obligation? Sustainability essentially a moral obligation to the future From a economist point of view But one cannot be obligated to do what is infeasible  Leave the world as we found (strong) infeasible and undesirable 
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Key point: To extent that resources are substitutable -- no specific species, or  resource, or mineral, or technology, that we are obligated to leave behind, as a  matter of sustainability Non re Renewable Easy  substitutable Cu, Fe Fish  Limit/ diff non  existing  substitutable Oil  nuclear Top soil  Air, H2O catastrophic errors human health  *reading Solow !!! leave future generation the knowledge general obligation, not a specific one or individual  to the future Solo 2 nd  key point: Essentially, sustainability is about distributional equity – sharing of well- being between present and future
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About  sharing  Leave it for market?! Market decide the price But market do a bad job on capturing envr value  Absent regulation, no socially efficient of air, that why there is regulation on air  pollution emission Bad at thinking of future gen too (not well present in the market)  Not in decision marking, need , property, concern of future Short change in current decision making  Social trap!!!  Sustainability is opposite to economic growth (strong opposite) 
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note on Module 4 - Module4 11/12/201113:01:00

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