Economics and Agricultural Sustainability Catherine L. Kling Prepared for the CALS Sustainability Symposium April 13, 2017 Center for Agricultural and Rural Development Department of Economics Iowa State University

Sustainability Definition Textbook definition (Goodstein and Polasky) “A sustainable economy is one in which the well-being of a typical member of all future generations will be higher, or at least the same, as the well-being of the typical member of the current generation.” To achieve this: We must maintain an increasing amount of manufactured, human, and social capital as we use natural capital AND we must preserve non replaceable natural capital

CARD Strengths Sustainability

Changes Needed What changes in curriculum are needed to address sustainability and prepare our students for careers where sustainability will become even more pronounced? Rewards for interdisciplinary work in addition to disciplinary contributions

CARD Engagement CARD conducts innovative public policy and economic research on agricultural, environmental, and food issues. CARD uniquely combines academic excellence with engagement and anticipatory thinking to inform and benefit society. Stakeholders: policymakers, research community , agricultural, food, and envioronmental gropus Demand driven, RFPs, interests of industry, NGOs, state and federal agencies, not coordinated

How Does the College Move Forward 83% of environmental and resource economists around the country agreed with the statement: “The management of resource use should aim to meet the needs of the present generation without compromising the ability of future generations to meet their own needs. “ Requires BOTH scientists, economists, and other social scientists. Haab and Whitehead. “What do Environmental and Resource Economists Think? Results from a Survey of AERE Members,” Review of Environmental Economics and Policy 11(2017): 43-58.

Comments and suggestions welcome Many thanks! Comments and suggestions welcome