A framework for green accounting could guide us along the path of sustainable development
A few years ago, some of the world’s leading economists were asked to make predictions for the next 100 years. Economic theorist Avinash Dixit made a tongue-in-cheek assessment of how global climate change negotiations might pan out. “Only the Germans and the Scandinavians will make promises in good faith and strive to fulfill them," wrote Dixit. “Britain will try to emulate them but will not succeed. America will be honest about its domestic political difficulties, and therefore promise little or nothing, drawing criticism from countries like France and Italy, which will sign anything and then do nothing. China and India will repeatedly declare good intentions, but their main priority will be economic growth, and they will be too distracted by their internal problems to do much about the environmental impact of their growth."