This book considers the possibility of adjusting traditional
economic measures of income and welfare to account for natural
resource extraction and environmental degradation.It presents and
reviews the limitations of an operational method for measuring
income from resource extraction in both open and closed economies.
In addressing closed economies, the discussion centres on the
relationship between income and global sustainability. The book
also considers the measurement of social welfare in relation to
environmental issues and resource extraction, especially changes
over time and comparison between countries. Theoretical material is
complemented by case studies on petroleum extraction in Norway and
soil degradation in Tanzania, to which the pragmatic methods are
applied. The author challenges the view that environmental
degradation is best included in welfare measurement and argues that
many of the proposals for adjusted welfare measurements are better
interpreted as adjustments of national income. Economic Growth and
the Environment will be indispensable to environmental accountants,
environmental organizations interested in green accounting and
students studying sustainability issues.
General
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