Toward a neoclassical theory of sustainable consumption: : Eight golden age propositions
- Autores: Harry D. Saunders
- Localización: Ecological Economics, ISSN-e 1873-6106, Nº. 105, 2014, págs. 220-232
- Idioma: inglés
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Resumen
Popular trends in ecological economics increasingly consign neoclassical economics to the sidelines of modern-day relevancy. The neoclassical tradition is often seen as reliant for its authenticity on a presumption of human avarice � both unbridled consumerism and corporate cupidity � and demanding for its real-world applicability an assumption of continuous economic growth in a world of hard limits.
This article examines the question of whether neoclassical theory could instead provide keys to deeper understanding of sustainable consumption. By combining in a single framework neoclassical growth theory, general equilibrium theory and duality theory � and by explicitly considering leisure time � the analysis demonstrates that neoclassical economics yields several useful insights bearing on long-term sustainability. The analysis confirms several tenets of ecological economics and challenges others.
Eight propositions emerge from this analysis that could help speed the development of a robust neoclassical theory of sustainable consumption, here branded �golden age� propositions as they strongly echo the �Golden Rule� discoveries of Edmund Phelps.
