In this paper, the notion of sustainability as a general regulative idea is distinguished from sustainable development as a more concrete concept leading to practical actions. After that, different economic meanings of sustainable development are discussed, and a concept of critical sustainability is proposed especially with respect to the problem of climate change. Maintaining critical crash barriers and bottlenecks presupposes, however, demanding, continuous improvements in energy efficiency. After discussing problems of decision theory in cases of uncertainty, which is constitutive for (...) climate change, the links between intragenerational and intergenerational justice are analyzed, and by using Barry's notion of justice and Goodin's concept of vulnerability, two possible positions of the general idea of fairness inherent in sustainable development are presented. We conclude by shortly sketching the notion of sufficiency as an additional supplementary sustainability strategy in cases where efficiency improvements based on innovation are less than sufficient for securing the (energetic) fundaments of economic activity and human life. (shrink)

The paper discusses some of the criticisms of contingent valuation (CV) and allied techniques for estimating the intensity of peoples' preferences for the environment. The weakness of orthodox utilitarian assumptions in economics concerning the commensurability of all items entering into peoples' choices is discussed. The concept of commensurability is explored as is the problem of rational choice between incommensurate alternatives. While the frequent claim that the environment has some unique moral intrinsic value is unsustainable, its preservation often raises ethical and (...) other motivations that are not commensurate with the values that people place on ordinary marketable goods. Nevertheless, CV is also claimed to have some advantages and it is concluded that little progress will be made in this area until both sides in the debate recognise what is valid in their opponents' arguments. (shrink)