The guiding principle of sustainability is widely accepted in today´s international policies. The principle contains two seperate objectives of justice with regard to the conservation and use of ecosystems and their services: (1) global justice between different people of the present generation...

Tourism is an industry that benefits from highly optimistic predictions for the future, its importance became increasingly large, both globally and regionally, nationally and locally. Studies in the field already demonstrates that tourism can be considered, the main industry in terms of...

There has been considerable debate about the independence of the three policy goals of allocative efficiency, distributional equity, and ecological sustainability since Daly's (1992) paper on the subject (Prakash and Gupta, 1994; Daly, 1994; Stewen, 1998; Daly, 1999; Stewen, 1999). I would like to weigh in...

Often concepts of sustainability have been criticised for being theoretically ill-founded and lacking practical impact. This paper provides a new theoretical foundation of sustainable development, which is based on a coherent set of three normative and functional categories: systems integrity,...

This paper explores the way the man–nature relationship and the related environmental problems have been dealt along with the history of the economic thought. We discuss a number of different theoretical frameworks (classical, Marxian and neoclassical economics, Georgescu-Roegen's...

Operating within the framework of conventional welfare economics, the sustainability debate has become mired in sterile discussions about the "proper" discount rate and the "true" degree of substitutability between various forms of economic capital. This paper suggests abandoning the...

The closure of the Red Sea at its southern entrance (the Bab-al-Mandab Strait) could well lead to the world's largest hydropower generation, in the order of 50 000 MW. The cost and time-scales involved are beyond normal economical considerations. Macro-engineering projects of this size cause a...