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John Pezzey - Sustainable Development Concepts: An Economic Analysis (World Bank Environment Paper)

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title Sustainable Development Concepts An Economic Analysis World Bank - photo 1

title:Sustainable Development Concepts : An Economic Analysis World Bank Environment Paper ; No. 2
author:Pezzey, John.
publisher:World Bank
isbn10 | asin:0821322788
print isbn13:9780821322789
ebook isbn13:9780585231488
language:English
subjectSustainable development, Economic policy.
publication date:1992
lcc:HD75.6.P49 1992eb
ddc:338.9
subject:Sustainable development, Economic policy.
Page i
WORLD BANK ENVIRONMENT PAPER NUMBER 2
Sustainable Development Concept
An Economic Analysis
John Pezzey
This book is printed on recycled paper
The World Bank
Washington, D.C.
Page ii
Copyright 1992
The International Bank for Reconstruction and Development/THE WORLD BANK
1818 H Street, N.W.
Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
First printing November 1992
Environment Papers are published to communicate the latest results of the Bank's environmental work to the development community with the least possible delay. The typescript of this paper therefore has not been prepared in accordance with the procedures appropriate to formal printed texts, and the World Bank accepts no responsibility for errors.
The findings, interpretations, and conclusions expressed in this paper are entirely those of the author(s) and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent. The World Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility whatsoever for any consequence of their use. Any maps that accompany the text have been prepared solely for the convenience of readers; the designations and presentation of material in them do not imply the expression of any opinion whatsoever on the part of the World Bank, its affiliates, or its Board or member countries concerning the legal status of any country, territory, city, or area or of the authorities thereof or concerning the delimitation of its boundaries or its national affiliation.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to copy portions for classroom use is granted through the Copyright Clearance Center, 27 Congress Street, Salem, Massachusetts 01970, U.S.A.
The complete backlist of publications from the World Bank is shown in the annual Index of Publications, which contains an alphabetical title list (with full ordering information) and indexes of subjects, authors, and countries and regions. The latest edition is available free of charge from the Distribution Unit, Office of the Publisher, The World Bank, 1818 H Street, N.W., Washington, D.C. 20433, U.S.A., or from Publications, The World Bank, 66, avenue d'Ina, 75116 Paris, France.
John Pezzey is a lecturer in the Department of Economics, at the University of Bristol in the United Kingdom, and a consultant to the Environmental Policy and Research Division, in the Environment Department of the World Bank.
Library of Congress Cataloging-in-Publication Data
Pezzey, John, 1953
Sustainable development concepts: an economic analysis / John
Pezzey.
p. cm. (World Bank environment paper; no. 2)
Includes bibliographical references.
ISBN 0-8213-2278-8
1. Sustainable development. 2. Economic policy. I. Title.
II. Series.
HD75.6.P49 1992
338.9dc20 92-35724
CIP
Page iii
FOREWORD
The decade of the 1980s has witnessed a fundamental change in the way governments and development agencies think about environment and development. The two are no longer regarded as mutually exclusive. It is now recognized that a healthy environment is essential to sustainable development and a healthy economy. Moreover, economists and planners are beginning to recognize that economic development which erodes natural capital is often not successful. Quite the contrary. Development strategies and programs which do not take adequate account of the state of critical resourcesforests, soils, grasslands, freshwater, coastal areas and fisheriesmay degrade the resource base upon which future growth is dependent.
Since its formulation, the Environment Department has conducted research and policy work on these important issues. The Department's work has focussed, in particular, on the links between environment and development, and the implications of these linkages for development policy in general. The objective of the Environment Paper Series is to make the results of our work available to the general public.
The broad concept of sustainable development was widely discussed in the early 1980s, but was placed firmly on the international agenda with the publication of Our Common Future in 1987, the report of the World Commission on Environment and Development. While the term "sustainability" has been widely used since then, little attempt has been made to translate this concept into an analytical framework that can be used in the development of "sustainable" economic policies.
This paper attempts to analyze the concepts of sustainable development, sustainable resource use and sustainable growth in terms of conventional economic analysis, to examine why free market forces may not achieve sustainability, and to explain how policy interventions may help or hinder the achievement of sustainability. An earlier version of this paper was published as an Environment Working Paper and was widely distributed and quoted. I am pleased, therefore, to see it reissued in revised form as a Bank Environment Paper, so that it may reach an even wider audience.
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MOHAMED T. EL ASHRY
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