Evaluating the Costs of Growth

Real World Economics Review, issue 67, 9 May 2014, page 41-51.

11 Pages Posted: 23 Sep 2014

See all articles by Asad Zaman

Asad Zaman

Quaid-i-Azam University - Pakistan Institute of Development Economics (PIDE)

Date Written: September 21, 2014

Abstract

The twentieth century has been extremely unusual in that economic growth rates have been extraordinarily high. At the same time, costs of this growth have also been extremely high. These have been in the form of environmental degradation, depletion of planetary resources and species, climate change, and adverse social change. Since many of the effects of growth go outside the marketplace, evaluating costs and benefits involves value judgments of types which economists are not well-equipped to make. This article sketches some issues which have not received sufficient attention in the discourse about current policy options which bear importantly on our future.

Keywords: Growth, Environment, Cost Benefit, Market Valuation, Non-Market Activities

JEL Classification: O44

Suggested Citation

Zaman, Asad, Evaluating the Costs of Growth (September 21, 2014). Real World Economics Review, issue 67, 9 May 2014, page 41-51., Available at SSRN: https://ssrn.com/abstract=2499115

Asad Zaman (Contact Author)

Quaid-i-Azam University - Pakistan Institute of Development Economics (PIDE) ( email )

Quaid-i-Azam University Campus
P.O.Box 1091
Islamabad, Federal Capital 44000
Pakistan

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