This theme introduces welfare economics and sustainable development in four topics dealing with four important issues to be considered in implementing sustainable development. These are: the use of ethics and discounting and economic growth models in balancing the interests of future generations against those of the present; the advantages and limitations of national accounting methodologies as means of evaluating sustainability; the international dimensions of sustainable development arising out of environmental and economic linkages among nations; and the nature of institutions required to promote sustainable development.
These two volumes are aimed at the following five major target audiences: University and College students Educators, Professional practitioners, Research personnel and Policy analysts, managers, and decision makers and NGOs.
Bromley argues that standard economic accounts see institutions as mere constraints on otherwise autonomous individual action. Some approaches to institutional economics--particularly the "new" institutional economics--suggest that economic institutions emerge spontaneously from the voluntary interaction of economic agents as they go about pursuing their best advantage. He suggests that this approach misses the central fact that economic institutions are the explicit and intended result of authoritative agents--legislators, judges, administrative officers, heads of states, village leaders--who volitionally decide upon working rules and entitlement regimes whose very purpose is to induce behaviors (and hence plausible outcomes) that constitute the sufficient reasons for the institutional arrangements they create.
Bromley's approach avoids the prescriptive consequentialism of contemporary economics and asks, instead, that we see these emergent and evolving institutions as the reasons for the individual and aggregate behavior their very adoption anticipates. These hoped-for outcomes comprise sufficient reasons for new laws, judicial decrees, and administrative rulings, which then become instrumental to the realization of desired individual behaviors and thus aggregate outcomes.
Divided into five parts, the book investigates how environmental values could be reconceived in a globalizing world.
Part I explores contemporary environmental values and their implications for a globalizing world.
Part II examines the development of Western and Eastern environmental values
Part III discusses contemporary environmental politics
Part IV examines how values inform environmental governance and how governance solutions influence which values are realised
Part V concludes the volume with two different views of the prospects of environmental values in a globalising world.
This study will be of great interest to students and researchers studying the environment in philosophy, political science, international relations, international environment law, environmental studies and development studies.