Sustainable Development as a club good
Sustainable Development as a club good

Summary/Abstract: In this article conditions and challenges for sustainable development becoming a kind of club good are addressed in the context of the aim of environmental sustainability and ever increasing income and wealth. In particular institutional governance, concerning different types of organizational structures being instrumental in the development and implementation of policy (institutional change) and influencing the incentives for and transaction costs of creation and enforcement of new property rights regimes, is fundamental in the discussion on sustainable development as club good. Lack of existence and/or access to institutional governance may work as an exclusion mechanism, and prevent the achievement of a good life for large groups of people.

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