Environment, Development and Sustainability

, Volume 10, Issue 3, pp 373–390 | Cite as

Tracing operational conditions for the Ecologically Sustainable Economic Development: the Pareto optimality and the preservation of the biological crucial levels

Original Paper

Abstract

The operational designing of Environmentally Sustainable Economic Development (ESED) emerges as an urgent and demanding task. Even though ESED has paved the way for thought-provoking and constructive scientific dialogue, appeal for designing an operational ESED is still lagging behind the needs of contemporary societies, leaving much to be desired. With this in mind, the present paper will aim at delineating principles for the operational application of ESED. First, the preservation of crucial properties of environmental functions and ecosystems, emerges as a prime condition of ESED. The second condition concerns the provision of the economic process with sufficient natural inputs; in this context, the paper intends to trace certain operational tenets governing the use of natural resources. Finally, the appropriate institutional settings for the operational design of ESED are traced.

Keywords

Sustainable development Co-evolutionary development Intergenerational Pareto optimality Safe minimum standards Critical natural capital Conditions of sustainable development Institutional economics 

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Copyright information

© Springer Science+Business Media B.V. 2006

Authors and Affiliations

  1. 1.Department of Economics and Regional DevelopmentPanteion University of Social and Political SciencesAthensGreece

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