TOWARD AN ECONOMICS OF STEWARDSHIP - THE CASE OF CLIMATE

Standard neo-classical approaches to long-term environmental problems such as climate change are unsatisfactory in relying on discounting, i n assuming an at least latent utilitarianism, and relying on the measu re of Gross Domestic Product. A framework built around trusteeship/ste wardship is set forth and advanced as a superior approach, and its imp lications for climate stability drawn. It is within a just emerging ec onomics of stewardship that the tools of neo-classical economics can h elp in finding the path to climate stability. (C) 1998 Elsevier Scienc e B.V. All rights reserved.