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"Harnessing the tension between "equity" and "efficiency" and achieving the optimal equilibrium between these policy objectives, has long been one of the major questions bedevilling economics and, more generally, political philosophy in liberal democracies but also beyond."
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sustainability, conservation, and responsible resource management. Written in memory of Peter Berck, Professor of Agricultural and …
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Renewable resources provide society with resource rent and surpluses for resource users (the processing industry, consumers) and owners of production factors (capital and labor employed in resource harvesting). We show that resource users and factor owners may favor inefficiently high harvest...
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need for meaningful sustainability assessment of an economy. Economists have developed rigorous approaches to … conceptualizing sustainability based on the paradigm of weak sustainability, which assumes infinite substitution between manufactured … and natural capital stocks. In contrast, strong sustainability emphasizes physical limits to this substitution and the …
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