Sustainable development concepts: an economic analysis
In: World Bank environment paper 2
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In: World Bank environment paper 2
In: Environment and development economics, Band 19, Heft 3, S. 329-332
ISSN: 1469-4395
How can the malign and growing influence of lobbying on global climate policies be checked? In this short piece I link some wide-ranging suggestions for academic research by environment and development economists that is needed to further this aim, with the key idea in Acemoglu and Robinson's (2012) Why Nations Fail. Their book argues strongly that sustained, very long-term economic growth through national industrial revolutions requires 'inclusive institutions' that distribute political power broadly over a nation's economic, class and geographical sectors. This is because long-term growth needs technical innovations, which cause creative destruction (structural adjustment) of existing technologies, which in turn harms the interests of existing elites. If elites are too powerful, they will block new technologies, so as to keep their powers to extract rents from the rest of society, and the nation will then fail (to grow sustainably).
In: JEEM-D-22-00742
SSRN
In: Environmental and resource economics, Band 38, Heft 2, S. 259-284
ISSN: 1573-1502
In: International library of environmental economics and policy