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Endangered EconomiesHow the Neglect of Nature Threatens Our Prosperity$
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Geoffrey Heal

Print publication date: 2016

Print ISBN-13: 9780231180849

Published to Columbia Scholarship Online: January 2019

DOI: 10.7312/columbia/9780231180849.001.0001

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The Next Steps

The Next Steps

(p.185) 10 The Next Steps
Endangered Economies

Geoffrey Heal

Columbia University Press

There are four steps to be taken to reconcile prosperity with sustainability; addressing external costs, property rights, natural capital and setting the right goals by measuring what matters. This would lead to the rapid adoption of renewable energy and a resolution of the climate problem, and many other hitherto-intractable environmental problems. The economics is clear. Action is blocked by politics, by powerful vested interests and by beliefs that intervention in the market is fundamentally wrong.

Keywords:   external effects, common property, snow pack, Catskill watershed, renewable energy

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