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Making the Transition

In: Nature and Wealth

Author

Listed:
  • Edward B. Barbier

    (University of Wyoming)

Abstract
As outlined in the previous chapter, in order to end the current structural imbalance in the world economy, all economies need to address simultaneously the two key sources of this imbalance: the underpricing of natural capital that leads to its overexploitation, and the insufficient accumulation of human capital to meet the demand, which contributes to wealth inequality. Also, there must be additional policies aimed at encouraging structural transformation in resource-dependent developing economies and ending the significant pockets of rural poverty found worldwide. Finally, as we have seen throughout this book, the global impacts of environmental degradation are becoming a pressing problem. Thus, overcoming these worldwide market failures and environmental threats, especially climate change, ecological scarcity and declining freshwater availability, requires creating global markets.

Suggested Citation

  • Edward B. Barbier, 2015. "Making the Transition," Palgrave Macmillan Books, in: Nature and Wealth, chapter 9, pages 184-207, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-40339-1_10
    DOI: 10.1057/9781137403391_10
    as

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