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| Author: | Amir, S. |
| Title: | The environmental cost of sustainable welfare |
| Journal: | Ecological Economics
1995 : APR, VOL. 13:1, p. 27-42 |
| Index terms: | WELFARE COSTS ENVIRONMENT |
| Language: | eng |
| Abstract: | Welfare is a measure of the well-being of society. It is sustainable if it can be maintained steadily for many years. according to neoclassical economic theory, value - that is the flow of welfare attributed to the totality of available outputs - is generated, distributed and consumed solely within the economy. When environmental externalities are absent, or after they have been internalized, environment-derived welfare is constant, and no environmental costs need to be incurred to sustain economy-derived welfare. |
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