The Green Economy

The current controversy over the future of the forest in ClayoquotSound is seen by many as typifying the unsolvable conflict between jobsand the environment. In The Green Economy, Michael Jacobsrejects both the traditional Green demand for 'zero growth' andthe new economic orthodoxy which seeks to give the environment amonetary value. In their place, he defines the concept of'sustainability,' as founded in a concern for futuregenerations.

But what is sustainable development? How can it be achieved? Jacobsexplores these questions by analyzing the economics of theenvironmental crisis, showing how the operation of the 'invisibleelbow' of market forces tends to cause environmental degradation.He highlights the key issues, both between rich and poor countries andbetween present and future generations.

Jacobs then sets out a system of 'sustainability' planning,devised to constrain the economy within environmental limits. He showshow 'green taxes' and other financial incentives, publicspending, and the implementation of regulations must be combined toachieve those objectives.

This book belongs to a tradition of political economy at its best,analytically rigorous, yet informed by both the deep ethical concernsof the Green movement and an awareness of the social and politicalcontext of economic policy. Written for the non-specialist in clearprose, it offers a radical yet feasible agenda for the 1990s andbeyond.