The price of green

Article Abstract:

The international movement toward ecologically sustainable economic development has led many to question the traditional economic models for measuring the costs and benefits of environmental policies. In particular, the economic principle of discounting is seen as inapplicable and ethically unsound.

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Summers on sustainable growth

Article Abstract:

A cost-benefit analysis must be employed in evaluating environmental investments, and no special discount rates should be used. It will be of at least as much use to future generations if we pursue high-yield investments than make special cases of environmental investments.

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Wealth of nature

Article Abstract:

Environmentalists are proposing that the depletion of natural resources should not be treated as current income for a country. The United Nations is planning to adjust the standard system of national accounts to reflect environmental wealth.

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