{"id":56203,"date":"2020-12-28T08:43:31","date_gmt":"2020-12-28T13:43:31","guid":{"rendered":"https:\/\/olduvai.ca\/?p=56203"},"modified":"2020-12-28T08:43:31","modified_gmt":"2020-12-28T13:43:31","slug":"the-transition-to-a-sustainable-prosperity-a-stock-flow-consistent-ecological-macroeconomic-model-for-canada","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=56203","title":{"rendered":"The Transition to a Sustainable Prosperity\u2014A Stock-Flow-Consistent Ecological Macroeconomic Model for Canada"},"content":{"rendered":"
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The Transition to a Sustainable Prosperity\u2014A Stock-Flow-Consistent Ecological Macroeconomic Model for Canada<\/a><\/h3>\n<\/div>\n<\/div>\n
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Sunset over Lake Ontario (CC.0) Lucas George Wendt \/ Unsplash<\/figcaption><\/figure>\n<\/div>\n
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Summary<\/strong><\/p>\n

This paper presents a stock-flow consistent (SFC) macroeconomic simulation model for Canada. We use the model to generate three very different stories about the future of the Canadian economy, covering the half century from 2017 to 2067: a\u00a0Base Case Scenario<\/em>\u00a0in which current trends and relationships are projected into the future, a\u00a0Carbon Reduction Scenario<\/em>\u00a0in which measures are introduced specifically designed to reduce Canada\u2019s carbon emissions, and a\u00a0Sustainable Prosperity Scenario<\/em>\u00a0which incorporates additional measures to improve environmental, social and financial conditions across society. The performance of the economy is tracked using two composite indicators constructed especially for this study: an environmental burden index (EBI) which describes the environmental performance of the model; and a composite sustainable prosperity index (SPI) which is based on a weighted average of seven economic, social and environmental performance indicators. Contrary to the widely accepted view, the results suggest that \u2018green growth\u2019 (in the\u00a0Carbon Reduction Scenario<\/em>) may be slower than \u2018brown growth\u2019. More importantly, we show (in the\u00a0Sustainable Prosperity Scenario<\/em>) that improved environmental and social outcomes are possible even as the growth rate declines to zero.<\/p>\n<\/div>\n<\/div>\n

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1. Introduction<\/strong><\/p>\n

The defining feature of ecological economics is its rigorous attention to the question of ecological scale (Daly and Morgan, 2019). For this reason, perhaps, it has often found itself at worst ignored and at best in outright conflict with conventional economic narratives framed around the assumption of \u2018eternal\u2019 economic growth (Liebreich, 2018). The former British prime minister, Margaret Thatcher, once famously declared that \u2018there is no alternative\u2019 to growth…<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Transition to a Sustainable Prosperity\u2014A Stock-Flow-Consistent Ecological Macroeconomic Model for Canada Sunset over Lake Ontario (CC.0) Lucas George Wendt \/ Unsplash Summary This paper presents a stock-flow consistent (SFC) macroeconomic simulation model for Canada. We use the model to generate three very different stories about the future of the Canadian economy, covering the half […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4],"tags":[20783,23149,30771,1447,769,30772,15672],"class_list":["post-56203","post","type-post","status-publish","format-standard","hentry","category-economics","category-environment","tag-centre-for-understanding-sustainable-prosperity","tag-cusp","tag-peter-victor","tag-prosperity","tag-sustainability","tag-sustainable-prosperity","tag-tim-jackson"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56203"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56203\/revisions"}],"predecessor-version":[{"id":56204,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56203\/revisions\/56204"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}