ECO100Y1 Lecture : Sustainable Development, International Sector
February 4, 2009
Foreign aid budget is the first to go when a country is not in good shape
Foreign exchange crisis in 2009/10 in many developing countries, may have to go to IMF to borrow
foreign exchange, IMF sends team over to assess
Millennium goals are going to be further away
Sarcozy, president of France want Steiglitz and Sen to head a 24 member commission to measure
}v}u]v}]oP}ÁZ]v&vU'W}v[Z}ÁooZ]v(}u]}v. Is not an overall indicator
of social and economical well-being.
How to use GDP in a better way, can they provide a measure to social, economical stability
Steiglitz-GDP has always been a flawed measurement of economic performance
-Sustainable development
-Water shortage of fresh water, pollution of water, waterways in Asia, disease
-Tudarow readings
Sustainability-Bob solow Reading 9.3
-}v[v}}v]uoUv}]vÀP}}Z]vµ]o}µvÇU]vÀ]vZ]PZ
social rates of return
-Larry Summers asked to write on sustainable growth
A moral obligation to future generation to treat investment projects on environment and should be
given priority
Summer: against this
Investments
Can help our future generations by improving infrastructure as by preserving rain forests
As much as educating children as by leaving oil in the ground.
As enlarging scientific knowledge as part of reducing carbon dioxide in the air
Should grandparents have reduce their standard of living when life was worse than now to leave raw
material in the ground for my benefit?
1 billion of people on $1 a day are more important than the future generations.
Summers-interspatial equity dominates intergenerational equity
If a project is bad for environment, will produce diseconomy, reduce social rate of return
Ehrlich-took 5 non-renewable raw materials, the prices fell over 10 years.
Tragedy of the Commons-Cardin
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Document Summary
Foreign aid budget is the first to go when a country is not in good shape. Foreign exchange crisis in 2009/10 in many developing countries, may have to go to imf to borrow foreign exchange, imf sends team over to assess. Millennium goals are going to be further away. Sarcozy, president of france want steiglitz and sen to head a 24 member commission to measure. Is not an overall indicator of social and economical well-being. How to use gdp in a better way, can they provide a measure to social, economical stability. Steiglitz-gdp has always been a flawed measurement of economic performance. Water shortage of fresh water, pollution of water, waterways in asia, disease. Larry summers asked to write on sustainable growth. A moral obligation to future generation to treat investment projects on environment and should be given priority. Can help our future generations by improving infrastructure as by preserving rain forests.
