1. Restructuring the Economy for Sustainable Development.
- Author
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Brown, Lester R.
- Subjects
- *
SUSTAINABLE development , *FISCAL policy , *ECONOMIC development & the environment , *CONSERVATION of natural resources , *ECOSYSTEM management , *TAXATION , *GOVERNMENT policy , *ENVIRONMENTAL policy , *PUBLIC spending - Abstract
The article informs that restructuring the economy for sustainable development requires economists and ecologists to work in tandem. There is a need to develop an eco-economy, one that respects the principles of ecology, one that can be integrated into the ecosystem in a way that will stabilize the relationship between the two, enabling economic progress to continue. Though there are several policy instruments that can be used for restructuring the economy, restructuring the tax system is the key to eliminate crippling economic distortions. Unlike before, natural capital is a scarce resource today. Therefore the goal should be to restructure the fiscal system so that the prices reflect the truth, protecting the economy's natural supports. Fiscal policy should be used to encourage environmentally constructive activities, so as to steer the economy in a sustainable direction.
- Published
- 2002