Publication Date

January 2002

Publication Details

Levy, A, Greening the Neoclassical Optimal Economic Growth Model, Working Paper 02-05, Department of Economics, University of Wollongong, 2002.


A no-arbitrage rule of consumption and a golden rule of capital accumulation are derived under the assumptions that the satisfaction from consumption is spoiled by environmental degradation caused by industrialisation but moderated by cleaning up and greening operations.