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Bahar Çelikkol Erbaş

Assistant Prof. of Economics


Dept. of Economics, TOBB Un. of Economics and
Technology
E-mail: bcelikkol@etu.edu.tr
Outline
 What is sustainable development?
 Sustainable development as a steady
state
 What do intergenerational equity and
alturism mean?
 Coevolution
 Management Adaptively
 Finale: Sustainable Development

04.04.2011 Bahar C Erbas ESS 502 Economics and Policy 2


What is sustainable development?
 “Development that meet the needs of the of the
present without compromising the ability of future
generations to meet their own needs…At a minimum
sustainable development must not endanger the
natural systems that support life on Earth.” (UN World
Commision on Environment and Development)
 Sustainable development is the common theme
linking conventions to reduce the emission of green
house gasses and to preserve biodiversity (The Earth
Summit in Rio de Janerio, 1992).

04.04.2011 Bahar C Erbas ESS 502 Economics and Policy 3


What is sustainable development?
 A vague concept
 Has several interpretations.
 It means different things to different people.
 Economist - a steady state within a natural resource or
macroeconomic growth model.
 Sociologist - a socio economic system that evolves slowly
and nondestructively within its supporting ecosystem.

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Intergenerational Equity and Alturism
 The present generation cares about the welfare of the
future generations as well as the resources and the
natural environment that they inherit to them.
 How resources need to be allocated over time?
 Biophysical world is evolving: extinctions and random
natural events.
 What does coevolution mean?
 What does managing adaptively mean?

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Sustainable Development as a
Steady State

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Sustainable Development as a Steady State
 If an economy were simply based on the harvest of a renewable resource,
 What does the sustainable development mean?
 Students will write the derivations given in the class.

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Sustainable Development as a Steady State
 If an economy were simply based on the harvest of a renewable resource,
 What does the sustainable development mean?
 Students will write the derivations given in the class.

04.04.2011 Bahar C Erbas ESS 502 Economics and Policy 8


Sustainable Development as a Steady State
 If an economy were simply based on the harvest of a renewable resource,
 What does the sustainable development mean?
 Students will write the derivations given in the class.

04.04.2011 Bahar C Erbas ESS 502 Economics and Policy 9


Intergenerational Alturism and
the Stock of Renewable
Resource

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Intergenerational Alturism and the Stock of Renewable
Resource
 Suppose a renewable resource is the basis of the family’s
livelihood, how do you define intergenerational alturism and
how the renewable resource is managed?

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Intergenerational Alturism and the Stock of Renewable
Resource
 Equilibrium with the alturistic motive compared with the steady
state - present value maximizin optimum.

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Coevolution

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Coevolution
 Stochastic evolution

 Coevolution is ecological concept concerned with the dynamics of


two or more species that interact over time.
 Socioeconomic system and natural environment

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Adaptive Development

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Adaptive Development
 When the future benefits or costs of a development project are
uncertain and if the project can be desinged in stages the optimal
development is likely to be incremental and adaptive.

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Finale: Sustainable
Development

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Finale: Sustainable Development
 Is “the term sustainable development” operetaionally limited?
 Students notes the details of the discussion

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Finale: Sustainable Development
 Alternative thoughts on sustainable development.
 Students notes the details of the discussion

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