Are We Consuming Too Much?

@article{Arrow2004AreWC,
  title={Are We Consuming Too Much?},
  author={K. Arrow and P. Dasgupta and L. Goulder and G. Daily and G. Heal and P. Ehrlich and S. Levin and K. Maler and S. Schneider and D. Starrett and B. Walker},
  journal={Environmental Economics},
  year={2004}
}
This paper articulates and applies frameworks for examining whether consumption is excessive. We consider two criteria for the possible excessiveness (or insufficiency) of current consumption. One is an intertemporal utility-maximization criterion: actual current consumption is deemed excessive if it is higher than the level of current consumption on the consumption path that maximizes the present discounted value of utility. The other is a sustainability criterion, which requires that current… Expand
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