Is Economic Growth Sustainable?

Abstract

Eight papers focus on issues of sustainability of growing living standards over the long-term and problems that could stop economies even if macroeconomic policies are managed properly and traditional errors that have brought periods of expansion to a halt are avoided. Papers discuss the health effects of air pollution in China (Maureen Cropper); why climate change impacts on agriculture could be economically substantial (Michael J. Roberts and Wolfram Schlenker); wealth, savings, and sustainability (Kirk Hamilton); China, the United States, and sustainability--perspectives based on comprehensive wealth (Kenneth J. Arrow, Partha Dasgupta, Lawrence H. Goulder, Kevin Mumford, and Kirsten Oleson); counting nonmarket, ecological public good--the elements of a welfare-significant ecological quantity index (James Boyd); the challenge of crafting rules to change open-access resources into managed resources (Elinor Ostrom); how trade affects the environment (Brian R. Copeland); and corporate environmentalism--doing well by being green (Geoffrey Heal). Heal is Paul Garrett Professor of Public Policy and Corporate Responsibility at Columbia Business School. Name and subject indexes.