Introducing the Environment into the Calculation of Wealth
Introducing the Environment into the Calculation of Wealth
Once the value of the environment is included in their profit and loss accounts, actors’ choices change, and the problem of macroeconomic indicators no longer arises. When the damage of pollution or overexploitation of ecosystems is correctly attributed, statisticians integrate it into the national accounts without even realizing it. Such a move would completely change the way economists analyze the links between the environment and the economy.
Keywords: Stiglitz-Sen-Fitoussi report, welfare, GDP measure, Human Development Index, A New Blueprint for a Green Economy, Barbier
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