Economic growth, reflected in increases in national output per capita, makes possible an improved material standard of living and the alleviation of poverty. Sustainable development, popularly and concisely defined as ‘meeting the needs of the present generations without compromising the ability of future generations to meet their needs,' directly addresses the utilization of natural resources, the state of the environment, and intergenerational equity.
Now in its second edition, Economic Growth and Sustainable Development features expanded discussion of income distribution, social capital and the insights of behavioural economics for climate change mitigation. Boxed case studies have been added which explore the impact of economic growth on people and countries in both the developed and developing world. This text addresses the following fundamental questions:
- What causes economic growth?
- Why do some countries grow faster than others?
- What accounts for the extraordinary growth in the world’s population over the past two centuries?
- What are the current trends in population and will these trends continue?
- How do we measure sustainable development and is sustainable development compatible with economic growth?
- Why is climate change the greatest market failure of all time?
- What can be done to mitigate climate change and global warming?
With a blend of formal models, empirical evidence, history and policy, this text provides a coherent and comprehensive treatment of economic growth and sustainable development. It is suitable for those who study development economics, sustainable development and ecological economics.
Table of Contents
1. Introduction to Economic Growth 2. Introduction to Population Growth II. THEORIES OF GROWTH 3. Classical Theories of Economic Growth 4. Macroeconomics and the Great Depression 5. Limits to Growth III. MACROECONOMIC MODELS 6. Macroeconomic Fluctuations 7. Growth Models 8. Empirical Analysis IV. DEMOGRAPHY 9. Population Dynamics 10. Population Transitions V. SUSTAINABLE DEVELOPMENT 11. Sustainable Development: Concepts and Measurement 12. Natural Resources and Climate Change 13. Global Food Supply 14. Markets and the Role of Government 15. Policies and Practices for Sustainable Development 16. Epilogue: World 2100
Peter N. Hess is Gail M. and Ernest G. Doe Professor of Economics at Davidson College, North Carolina, USA.