Section
1: The Need for a New Paradigm
 References
from the Book
1.
Keynesian economics is an economic theory proposed
by British economist John Maynard Keynes. His major
work came in 1936 in The General Theory of Employment
and Economics. Keynes' ideas created a revolution
in the world of economics called the Keynesian Revolution
and he proposed the idea that governments use deficit
spending in order to bring about economic recovery.
2.
The Organization of Petroleum Exporting Countries
(OPEC) was formed in 1960, but its strength and impact
were not felt until 1973, when the cartel decided
to raise oil prices dramatically by cutting back on
world supply.
3.
Greenwald, B. and Stiglitz, J. (1986) 'Externalities
in Economies with Imperfect Information and Incomplete
Markets', Quarterly Journal of Economics, vol 101,
no 2.
4.
For instance, recently the corporate scandals in the
US
and, to a lesser extent other countries, have led
even conservative governments to acknowledge the role
and importance of governments, regulation and accountancy
standards.
5.
Hanley N., Shogren, J. and White, B. (1997) Environmental
Economics in Theory and Practice, Macmillan, London;
Dovers, S. (2001) Institutions and Sustainability,
ACF Tela Paper 7, Australian Conservation Foundation,
Melbourne.
6.
Hosted by the Government of Western Australia, the
conference brought together both government delegations
and the academic community from around the world to
focus on the issue of the role of regional and state
governments in achieving sustainability. Refer to
Section 3 for the resulting Fremantle Declaration
- Passing the torch to the regions.
7.
Australian Treasury Department (2001) Public Good
Conservation and the Impact of Environmental Measures
Imposed on Landholders, Economic Roundup, Centenary
Edition, Australian Treasury Department, Canberra
.
8.
Energy Efficiency Measures in the Building Code of
Australia, Energy efficiency measures for houses were
introduced in the BCA on 1
January 2003
(Amendment No 12). Regulation Document (RD2003-1)
for multi-residential buildings (Class 2, 3 and 4
buildings).
9.
Brennan, N. (2003) 'Achieving a Sustainable Future:
An Architectural Perspective', paper submitted as
a representative of the Royal Australian Institute
of Architecture to the Young Professions Australia
Roundtable, (Council of) Professions Australia.
10.
The WBCDS was created in 1992. It is made up of over
160 major international corporations covering 20 significant
sectors, from more than 30 countries. It also benefits
from a global network of 35 national and regional
business councils and partner organizations involving
over 1000 business leaders globally.
11.
WBCSD (1997) Exploring Sustainable Development: Global
Scenarios 2000-2050, WBCSD, London.
12.
European Commission (2001) Commission Issues Guidelines
for Environment-Friendly Procurement, Press Release
IP/01/959, Brussels,
5 July.
13.
World Bank (1997) World Bank Development Report 1997:
The State in a Changing World, Oxford
University
Press, Oxford.
14.
Again contrary to public perception economists have
been working on the real costs of externalities like
congestion costs to the economy for decades. The Nobel
Laureate James Tobin was one of the first economists
to study and attempt to quantify 'congestion costs'
to the economy.
15.
Newman, P. (2003) On Climbing Trees: An Australian
Perspective on Sustainability and Political Risk,
Sustainability Policy Unit, Department of the Premier
and Cabinet, Government of Western
Australia,
Perth.
|