Sustainability: Critical Components of Natural Capital

This lecture discusses the weak and strong conditions for sustainable development, emphasizing the importance of critical components of natural capital that are irreplaceable and must be preserved. It explores the implementation of the strong condition, including the use of renewable resources, avoidance of environmental degradation, and the precautionary principle. The Swiss government's position on sustainable development is also examined, highlighting the need for a balanced relationship between nature and human demands. Concluding with the concept of preserving total capital and critical components, the lecture suggests project ideas for further exploration of different types of capital and their impact on welfare.