The Role of Law in Transitioning to a Sustainable Economy

18 Pages Posted: 2 Aug 2016

See all articles by Shann Turnbull

Shann Turnbull

International Institute for Self-Governance; Sustainable Money Working Group; New Garden City Alliance

Date Written: August 1, 2016


Facilitating legislation is required for citizens to initiate local referendums to adopt urban property rights that provide sustainable affordable housing and infrastructure. New laws and regulations are required so official currencies do not: (a) create inefficiencies and climate change from mispricing resources, or (b) earn interest to exacerbate resource misallocation and inequality. Corporate constitutions require changes to minimize overpayments to investors creating inefficiencies and inequality not reported by accountants and so not discussed by economists or politicians. The problems created by non-ecological property rights have been exacerbated by democracy being degraded from the power and influence of a small minority who own the majority of private assets and influence the use of public assets. Achieving a sustainable steady state economy requires scholars and activists educating citizens how it can become more equitable, efficient resilient in providing well being while consuming less. Democratizing property creates a third way to distribute national income other than through work or welfare to reduce the size and cost of government. Ecological ownership could provide a universal basic income to remove the need for compulsory private funding of pensions and allow policies of full employment to be replaced with policies of fulfillment in work and/or leisure.

Keywords: Duplex Tenure, Ecological Capitalism, Equality, Stakeholder Governance, Terminating Currencies

JEL Classification: A11, B52, C18, D01, D02, D31, D47, D63, E42, G14, G30, I31, K11, K23, P14, P47, P50, Q15, Q56, R31

Suggested Citation

Turnbull, Shann, The Role of Law in Transitioning to a Sustainable Economy (August 1, 2016). Available at SSRN: or

Shann Turnbull (Contact Author)

International Institute for Self-Governance ( email )

PO Box 266 Woollahra
Cell: +61418222378
Sydney, New South Wales 1350
+61293278487 (Phone)
+61280655905 (Fax)

SKYPE: shann.turnbull

Sustainable Money Working Group ( email )

Holyoake House
Hanover Street
Manchester, M60 0AS
United Kingdom

New Garden City Alliance ( email )

113 Guinness Court
London, UK, SE1 3TA
United Kingdom
+44 207 378 1902 (Phone)


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