This paper studies the consequences of certain widespread policies for the quality and sustainability of growth. These policies cause economic inefficiency, environmental destruction and increased poverty. The paper develops a political economy model to show why the existence of such policies is...

Since the publication of the Report of the Brundtland Commission (Our Common Future) in 1987, and the consequent Earth Summit on sustainable development, global attention on natural resource scarcity and degradation has been increasing, because of climate change and rising food and energy...