Managing the Global Commons: Principles and Practice

Graciela Chichilnisky

in Global Environmental Commons

Published in print July 2012 | ISBN: 9780199656202
Published online September 2012 | e-ISBN: 9780191742149 | DOI:
Managing the Global Commons: Principles and Practice

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This chapter proposes the creation of global market mechanisms to forestall the rapid and possibly irreversible loss of species and ecosystems. Several distinct mechanisms are proposed here, each addressing a different aspect of the global environment challenge: watersheds, biodiversity, indigenous knowledge, and the global spectrum. All the mechanisms proposed address the same overall topic and follow the same fundamental principles. The global commons is the overriding topic, and each mechanism addresses one aspect of this, and all the mechanisms proposed here are based on the same fundamental principles or imperatives: promoting sustainable use of the Earth's resources, a harmonious relationship between humans and ecosystems, using market-based and self-funded mechanisms that require no donations for their implementation, and decreasing the wealth gap between rich and poor nations and more generally between high- and low-income people, women, men, and children.

Keywords: principles for global governance; global commons; global financial mechanisms; new market structures; valuation; global commons; updated GDP; Kyoto Protocol; carbon market; market for water; biodiversity

Chapter.  10830 words. 

Subjects: Economic Development and Growth

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