Economics, Sustainability, and Natural Resources Economics of Sustai
The economics of sustainability is much more complex than the neoclassical (Newtonian) economic approach to economic efficiency. Forest resources provide the ideal starting point for the economic analysis of sustainability. This book provides a systematic
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Economics, Sustainability, and Natural Resources Economics of Sustainable Forest Management
Edited by Shashi Kant and R. Albert Berry
ECONOMICS, SUSTAINABILITY, AND NATURAL RESOURCES
Economics, Sustainability, and Natural Resources Economics of Sustainable Forest Management
Edited by
SHASHI KANT Faculty of Forestry, University of Toronto, Canada and
R. ALBERT A BERRY Munk Centre for International Studies, University of Toronto, Canada
A C.I.P. Catalogue record for this book is available from the Library of Congress.
ISBN ISBN ISBN ISBN
1-4020-3465-2 (HB) 978-1-4020-3465-7 (HB) 1-4020-3518-7 (e-book) 978-1-4020-3518-0 (e-book)
Published by Springer, P.O. Box 17, 3300 AA Dordrecht, The Netherlands. www.springeronline.com
Printed on acid-free paper
All Rights Reserved © 2005 No part of this work may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, microfilming, recording or otherwise, without written permission from the Publisher, with the exception of any material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Printed in the Netherlands.
Dedicated to Hoshwati Yadav, Rachel Carson, and Maurizio Merlo
Companion volume: Institutions, Sustainability, and Natural Resources: Institutions for Sustainable Forest Management
CONTENTS
Figures and Tables About the Contributors Series Preface Preface and Acknowledgements
ix xi xv xvii
1. Sustainability, Economics, and Forest Management Shashi Kant and R. Albert Berry
1
PART ONE: COMPLEXITY, ETHICS, AND THE ECONOMICS OF SUSTAINABLE FOREST MANAGEMENT 2. Complexity, Muddling Through, and Sustainable Forest Management David Colander
23
3. Inter-temporal Ethics, Modern Capital Theory and the Economics of Sustainable Forest Management M. Ali Khan
39
PART TWO: CONSUMER CHOICE THEORY AND THE ECONOMICS OF SUSTAINABLE FOREST MANAGEMENT 4. Post-Keynesian Consumer Choice Theory for the Economics of Sustainable Forest Management Marc Lavoie 5. Behavioral Economics and Sustainable Forest Management Jack L. Knetsch 6. How Sustainable is Discounting? Colin Price
67 91 105
PART THREE: SOCIAL CHOICE THEORY AND THE ECONOMICS OF SUSTAINABLE FOREST MANAGEMENT 7. Intergenerational Equity and the Forest Management Problem Tapan Mitra
137
8. Can Stock-specific Sustainability Constraints be justified? Geir B. Asheim, and Wolfgang Buchholz
175
vii
viii
ECONOMICS, SUSTAINABILITY, AND NATURAL RESOURCES
PART FOUR: NON-LINEARITIES, MULTIPLE EQUILIBRIA AND THE ECONOMICS OF SUSTAINABLE FOREST MANAGEMENT 9. Complexities of Dynamic Forest Management Policies J. Barkley Rosser, Jr. 10. Nonlinearities, Biodiversity Conservation, and Sustainable Forest Management Jeffrey R. Vincent and Matthew D. Potts 11. Joint Forest Management: Experience and Modeling Milindo Chakrabarti, Samar K. Datta, E. Lance Howe, and Jeffrey B. Nugent
191
207 223
PART FIVE: EPILOGUE 12. Post-Newtonian Economics and Sustainable Forest
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