In this book, Professor Uzawa modifies and extends the theoretical
premises of orthodox economic theory to those broad enough to be
capable of analyzing the phenomena related to environmental
disequilibrium, particularly global warming, and of finding
institutional arrangements and policy measures that may bring about
a more optimal state where natural and institutional components are
harmoniously blended. He constructs a theoretical framework in
which three major problems concerning global environmental issues
may effectively be addressed. First, all phenomena involved with
global environmental issues exhibit externalities of one kind or
another. Secondly, global environmental issues involve
international and intergenerational equity and justice. Thirdly,
global environmental issues concern the management of the
atmosphere, the oceans, water, soil, and other natural resources
that have to be decided by a consensus of all affected countries.
General
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