The coronavirus pandemic, which started in late 2019, is one of the devastating crises that has affected human lives and the economies of many countries across the globe. Though economies have been affected, some sectors (such as food and fisheries sectors) are more vulnerable and prone to the deleterious impacts of the COVID-19 pandemic. This paper highlights the various disruptions (safety at workplace, loss of harvest and processing activity, loss of export opportunities and income) faced by the Newfoundland and Labrador fisheries due to several restrictive measures (especially on mobility, social distancing, quarantine, and, in extreme cases, lockdown) to curtail the spread of the virus. Additionally, this paper makes a case that Newfoundland and Labrador fisheries can be managed sustainably during and after the pandemic by suggesting practical recommendations borrowed from two sustainability frameworks (Canadian Fisheries Research Network and the EU Setting the Right Safety Net framework) for managing fisheries in Canada and the European Union.
One of the controversial debates in environmental economics, which began in the 1980s, is the relationship between environmental pollution and economic growth. The study investigated the relationship between per capita carbon dioxide emissions and gross domestic product per capita in 63 countries over 51 years during 1960 to 2010. Using a graphical analysis approach, the results of this study showed that the relationship between per capita carbon dioxide emissions and gross domestic product per capita amongst the sample data followed a sigmoid curve indicating that the per capita carbon dioxide emissions of a country increased when its economy transitioned from a labor-intensive technology to a capital-intensive one caused by an increase in the rate of economic growth. The results also showed that the amount of relative emissions varied amongst the countries. The variability could be imputed to the following reasons: (i) the heterogeneity in the structure of the economies, and (ii) the disparity in the mode of production used in the countries’ manufacturing processes.
Sustainability is a "contested" concept introduced at the beginning of the 18th century in German forestry circles concerned about sustainable harvests and rebranded in 1987 as "sustainable development" by the Brundtland Report, which defined it as harmonious economic, social, and ecological development that enhances both current and future potential to meet human needs and aspirations. However, after more than three decades of sustainable development, humanity is on an unsustainable path featuring rampant ecosystem damage, rising social inequality, and harmful cultural homogenization. This paper is a book review of Fred P. Gale's Political Economy of Sustainability, a book published in 2018 by Edward Elgar Publishers. The book advances the innovative idea that the current lack of progress in implementation of the sustainable development goals is due to the narrow understanding by individuals, firms, states, and political parties of the values underlying sustainability. The book thus starts a much-needed conversation about economic values, a conversation ousted from the neo-classical economics discipline in the late 19th century by the marginalist thinkers who wanted to make it a positive science. The book identifies four elemental economic values-exchange value, labor value, use value, and function value-and argues that basing our socio-economic and political development on only one type of value with the exclusion of the others has led to the current dangerously unsustainable path humankind is on. Achieving sustainability value requires a balanced integration of all four types of values in all deliberations about socio-economic activities. How can this be accomplished? The author proposes a pragmatic solution in the form of a "tetravaluation" process, a dialogue involving multiple value holders able to reflexively negotiate and compromise until the pluralistic sustainability value is discovered and accepted by all the parties. The book challenges the unsustainable functioning of existing economic, political, and cultural institutions and invites a rethinking of their governance, which should deliberately embrace the pluralistic value of sustainability. The tetravaluation process has the potential to generate sustainable choices and inform better policy decisions able to protect at the same time the proponents of exchange value (consumers), the promoters of labor value (workers, producers), the beneficiaries of use value (communities), and the holder of functional values (the environment).
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