The Natural Edge Project The Natural Advantage of Nations Whole System Design Factor 5 Cents and Sustainability Higher Education and Sustainable Development

"The pivotal element of this process (sustainable development) is education, and I find it really heartening that so many people are thirsty for knowledge and wanting to implement the 'new' principals and methodologies that you (TNEP) have developed and promoted."
Professor Andrew Downing, President Engineers Australia 2004/05

The Natural Advantage of Nations (Vol. I): Business Opportunities, Innovation and Governance in the 21st Century


Section 1: The Need for a New Paradigm

1 Economic policy: the broader context
1.1 The invisible hand
1.2 Collaborative approaches
2 Tripartite world
3 Whole of society approach
3.1 Importance of capacity building

References from the Book

1. Keynesian economics is an economic theory proposed by British economist John Maynard Keynes. His major work came in 1936 in The General Theory of Employment and Economics. Keynes' ideas created a revolution in the world of economics called the Keynesian Revolution and he proposed the idea that governments use deficit spending in order to bring about economic recovery.


2. The Organization of Petroleum Exporting Countries (OPEC) was formed in 1960, but its strength and impact were not felt until 1973, when the cartel decided to raise oil prices dramatically by cutting back on world supply.


3. Greenwald, B. and Stiglitz, J. (1986) 'Externalities in Economies with Imperfect Information and Incomplete Markets', Quarterly Journal of Economics, vol 101, no 2.


4. For instance, recently the corporate scandals in the US and, to a lesser extent other countries, have led even conservative governments to acknowledge the role and importance of governments, regulation and accountancy standards.


5. Hanley N., Shogren, J. and White, B. (1997) Environmental Economics in Theory and Practice, Macmillan, London; Dovers, S. (2001) Institutions and Sustainability, ACF Tela Paper 7, Australian Conservation Foundation, Melbourne.


6. Hosted by the Government of Western Australia, the conference brought together both government delegations and the academic community from around the world to focus on the issue of the role of regional and state governments in achieving sustainability. Refer to Section 3 for the resulting Fremantle Declaration - Passing the torch to the regions.


7. Australian Treasury Department (2001) Public Good Conservation and the Impact of Environmental Measures Imposed on Landholders, Economic Roundup, Centenary Edition, Australian Treasury Department, Canberra .


8. Energy Efficiency Measures in the Building Code of Australia, Energy efficiency measures for houses were introduced in the BCA on 1 January 2003 (Amendment No 12). Regulation Document (RD2003-1) for multi-residential buildings (Class 2, 3 and 4 buildings).


9. Brennan, N. (2003) 'Achieving a Sustainable Future: An Architectural Perspective', paper submitted as a representative of the Royal Australian Institute of Architecture to the Young Professions Australia Roundtable, (Council of) Professions Australia.


10. The WBCDS was created in 1992. It is made up of over 160 major international corporations covering 20 significant sectors, from more than 30 countries. It also benefits from a global network of 35 national and regional business councils and partner organizations involving over 1000 business leaders globally.


11. WBCSD (1997) Exploring Sustainable Development: Global Scenarios 2000-2050, WBCSD, London.


12. European Commission (2001) Commission Issues Guidelines for Environment-Friendly Procurement, Press Release IP/01/959, Brussels, 5 July.


13. World Bank (1997) World Bank Development Report 1997: The State in a Changing World, Oxford University Press, Oxford.


14. Again contrary to public perception economists have been working on the real costs of externalities like congestion costs to the economy for decades. The Nobel Laureate James Tobin was one of the first economists to study and attempt to quantify 'congestion costs' to the economy.


15. Newman, P. (2003) On Climbing Trees: An Australian Perspective on Sustainability and Political Risk, Sustainability Policy Unit, Department of the Premier and Cabinet, Government of Western Australia, Perth.