Next Article in Journal
Coping with Complex Environmental and Societal Flood Risk Management Decisions: An Integrated Multi-criteria Framework
Next Article in Special Issue
Do Respondents’ Perceptions of the Status Quo Matter in Non-Market Valuation with Choice Experiments? An Application to New Zealand Freshwater Streams
Previous Article in Journal
Revisiting System Paradigms from the Viewpoint of Manufacturing Sustainability
Previous Article in Special Issue
Continuum of Risk Analysis Methods to Assess Tillage System Sustainability at the Experimental Plot Level
Article

Accounting for Sustainability: A Dissenting Opinion

Department of Economics, McGill University, 855 Sherbrooke St. W., Montreal QC H3A 2T7, Canada
Sustainability 2011, 3(9), 1341-1356; https://doi.org/10.3390/su3091341
Received: 5 August 2011 / Revised: 21 August 2011 / Accepted: 25 August 2011 / Published: 29 August 2011
(This article belongs to the Special Issue Environmental and Resource Economics)
Discounted-utilitarian welfare, the commonest social objective studied by economists, is the basis for the theory of green accounting in terms of social utility. Sustainability is a different type of social objective. Consequently, green accounting as derived in many empirical models is not appropriate for studying sustainability. Maximin is a consistent foundation for the analysis of sustainability, both weak and strong, that provides conceptually correct accounting prices. These prices are not yet practicable for real economies, however, and must await further advances. Sustainable development is a generalization of the notion of sustainability and can be analyzed using a generalization of maximin. View Full-Text
Keywords: sustainability; sustainable development; present value; welfare; maximin; green accounting sustainability; sustainable development; present value; welfare; maximin; green accounting
MDPI and ACS Style

Cairns, R.D. Accounting for Sustainability: A Dissenting Opinion. Sustainability 2011, 3, 1341-1356. https://doi.org/10.3390/su3091341

AMA Style

Cairns RD. Accounting for Sustainability: A Dissenting Opinion. Sustainability. 2011; 3(9):1341-1356. https://doi.org/10.3390/su3091341

Chicago/Turabian Style

Cairns, Robert D. 2011. "Accounting for Sustainability: A Dissenting Opinion" Sustainability 3, no. 9: 1341-1356. https://doi.org/10.3390/su3091341

Find Other Styles

Article Access Map by Country/Region

1
Only visits after 24 November 2015 are recorded.
Back to TopTop