SUSTAINABILITY AND MARKETS: ON THE NEOCLASSICAL MODEL OF ENVIRONMENTAL ECONOMICS

In: New political economy, Band 2, Heft 3, S. 365-385

Abstract

THE PURPOSE OF THIS ARTICLE IS TO DISCUSS THE ROLE OF MARKETS IN THE CONCEPT AND THE PRACTICAL ACHIEVEMENT OF ENVIRONMENTAL SUSTAINABILITY. THREE CRUCIAL FEATURES OF SUSTAINABILITY AS AN ENVIROMENTAL-ECONOMIC OBJECTIVE ARE SET OUT: ITS BIOPHYSICAL BASIS, ITS COLLECTIVE CHARACTER AND THE SCALE OF THE SOCIOECONOMIC CHANGES IT REQUIRES. HOW THESE FEATURES OF THE SUSTAINABILITY OBJECTIVE MAKE THE NEOCLASSICAL MARKET MODEL INADQUATE IS SHOWN.