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Measure Of Economic Welfare
The Index of Sustainable Economic Welfare (ISEW) is an economic indicator intended to replace the gross domestic product (GDP), which is the main macroeconomic indicator of System of National Accounts (SNA). Rather than simply adding together all expenditures like the GDP, consumer spending is balanced by such factors as income distribution and cost associated with pollution and other unsustainable costs. The calculation excludes defence expenditures and considers a wider range of harmful effects of economic growth. It is similar to the genuine progress indicator (GPI). The Index of Sustainable Economic Welfare (ISEW) is roughly defined by the following formula: ''ISEW'' = ''personal consumption''+ ''public non-defensive expenditures''- ''private defensive expenditures''+ ''capital formation''+ ''services from domestic labour''- ''costs of environmental degradation''- ''depreciation of natural capital'' History GDP is misleading as an indicator or even as a proxy of the welfare ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sustainability Measurement
Sustainability measurement are tools and methods that attempt to measure the degree of sustainability of processes, products, services, businesses and so forth. Sustainability is difficult to quantify, perhaps even immeasurable. The metrics used to try and measure sustainability involve the sustainability of environmental, social and economic domains, (both individually and in various combinations) and are still evolving. They include indicators, benchmarks, audits, sustainability standards and certification systems like Fairtrade and Organic, indexes and accounting, as well as assessment, appraisal and other reporting systems. They are applied over a wide range of spatial and temporal scales.Bell, Simon and Morse, Stephen 2008. Sustainability Indicators Measuring the Immeasurable?'' 2nd edn. London: Earthscan. . Some of the widely used sustainability measures include corporate sustainability reporting, Triple Bottom Line accounting, World Sustainability Society, and estimates of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Happy Planet Index
The Happy Planet Index (HPI) is an index of human well-being and environmental impact that was introduced by the New Economics Foundation in 2006. Each country's HPI value is a function of its average subjective life satisfaction, life expectancy at birth, and ecological footprint per capita. The exact function is a little more complex, but conceptually it approximates multiplying life satisfaction and life expectancy and dividing that by the ecological footprint. The index is weighted to give progressively higher scores to nations with lower ecological footprints. The index is designed to challenge well-established indices of countries’ development, such as the gross domestic product (GDP) and the Human Development Index (HDI), which are seen as not taking sustainability into account. In particular, GDP is seen as inappropriate, as the usual ultimate aim of most people is not to be rich, but to be happy and healthy. Furthermore, it is believed that the notion of sustainable d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Happiness Economics
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health. It typically treats subjective happiness-related measures, as well as more objective quality of life indices, rather than wealth, income or profit, as something to be maximized. The field has grown substantially since the late 20th century, for example by the development of methods, surveys and indices to measure happiness and related concepts,• Carol Graham, 2008. "happiness, economics of," ''The New Palgrave Dictionary of Economics'', 2nd EditionAbstract.Prepublicatio copy.br /> • _____, 2005. "The Economics of Happiness: Insights on Globalization from a Novel Approach," ''World Economics'', 6(3), pp41â ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross National Well-being
Gross National Well-being/Wellness (GNW) or Happiness (GNH) a socioeconomic development and measurement framework. The GNW/GNH Index consists of seven dimensions: economic, environmental, physical, mental, work, social, and political. Most wellness areas include both subjective results (via survey) and objective data. Disambiguation The GNW Index is also known as the first GNH Index or Gross National Happiness Index, not to be confused with Bhutan's GNH Index. Both econometric frameworks are different in authorship, creation dates, and geographic scope. The GNW / GNH index is a global development measurement framework published in 2005 by the International Institute of Management in the United States. The term "Gross National Happiness" was first coined by the 4th King of Bhutan, King Jigme Singye Wangchuck, in 1972 when he declared, "Gross National Happiness is more important than Gross Domestic Product." However, no GNH Index existed until 2005. The GNH philosophy suggested tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross National Happiness
Gross National Happiness (GNH), sometimes called Gross Domestic Happiness (GDH), is a philosophy that guides the government of Bhutan. It includes an index which is used to measure the collective happiness and well-being of a population. Gross National Happiness Index is instituted as the goal of the government of Bhutan in the Constitution of Bhutan, enacted on 18 July 2008. History The advent and concept of "Gross National Happiness" (GNH) germinated in the mind of Bodhisattva Druk Gyelpo, the 4th King of Bhutan, Jigme Singye Wangchuk, groomed with the evolution of "Gaki Phuensum" (Peace and Prosperity) and the modernization period of Bhutan during the reign of Druk Gyelpo, the 3rd King of Bhutan, Jigme Dorji Wangchuk. The term "Gross National Happiness" as conceptualized by the 4th King of Bhutan, Jigme Singye Wangchuck, in 1972 was declared as, "more important than Gross Domestic Product." The concept implies that sustainable development should take a holistic approach toward ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Peace Index
Global Peace Index (GPI) is a report produced by the Institute for Economics & Peace (IEP) which measures the relative position of nations' and regions' peacefulness. The GPI ranks 163 independent states and territories (collectively accounting for 99.7 per cent of the world's population) according to their levels of peacefulness. In the past decade, the GPI has presented trends of increased global violence and less peacefulness. The GPI is developed in consultation with an international panel of peace experts from peace institutes and think tanks with data collected and collated by the Economist Intelligence Unit. The Index was first launched in May 2009, with subsequent reports being released annually. In 2015 it ranked 165 countries, up from 121 in 2007. The study was conceived by Australian technology entrepreneur Steve Killelea, and is endorsed by individuals such as former UN Secretary-General Kofi Annan, the Dalai Lama, archbishop Desmond Tutu, former President of Finl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gender-related Development Index
The Gender Development Index (GDI) is an index designed to measure gender equality. GDI, together with the Gender Empowerment Measure (GEM), was introduced in 1995 in the Human Development Report written by the United Nations Development Program. The aim of these measurements was to add a gender-sensitive dimension to the Human Development Index (HDI). The first measurement that they created as a result was the GDI. The GDI is defined as a "distribution-sensitive measure that accounts for the human development impact of existing gender gaps in the three components of the HDI" (Klasen 243). Distribution sensitive means that the GDI takes into account not only the averaged or general level of well-being and wealth within a given country, but focuses also on how this wealth and well-being is distributed between different groups within society. The HDI and the GDI (as well as the GEM) were created to rival the more traditional general income-based measures of development such as gros ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Green Gross Domestic Product
The green gross domestic product (green GDP or GGDP) is an index of economic growth with the environmental consequences of that growth factored into a country's conventional GDP. Green GDP monetizes the loss of biodiversity, and accounts for costs caused by climate change. Some environmental experts prefer physical indicators (such as "waste per capita" or "carbon dioxide emissions per year"), which may be aggregated to indices such as the " Sustainable Development Index". Calculation Calculating green GDP requires that net natural capital consumption, including resource depletion, environmental degradation, and protective and restorative environmental initiatives, be subtracted from traditional GDP.Joseph Stiglitz, Amartya Sen and Jean-Paul Fitoussi"Report by the Commission on the Measurement of Economic Performance and Social Progress" "Commission on the Measurement of Economic Performance and Social Progress", 2008 Some early calculations of green GDP take into account one or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Green National Product
The green national product is an economic metric that seeks to include environmental features such as environmental degradation and resource depletion with a country's national product. Criticism of gross national product The gross national product (GNP) measures the welfare of a nation's economy through the aggregate of products and services produced in that nation. Although GNP is a proficient measurement of the magnitude of the economy, many economists, environmentalists and citizens have been arguing the validity of the GNP in respect to measuring welfare. Joseph Stiglitz, Nobel Prize–winning economist, states that this standard measurement for any national economy has become deficient as a measure of long-term economic health in the recently resource-driven and globalizing world. Critics suggest that GNP often includes the environment on the wrong side of the balance sheet because if someone first pollutes and then another person cleans the pollution, both activities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Full Cost Accounting
Environmental full-cost accounting (EFCA) is a method of cost accounting that traces direct costs and allocates indirect costs by collecting and presenting information about the possible environmental, social and economical Cost-benefit analysis, costs and benefits or advantagesin short, about the "triple bottom line"for each proposed alternative. It is also known as true-cost accounting (TCA), but, as definitions for "true" and "full" are inherently subjective, experts consider both terms problematical.See Green economics. Since costs and advantages are usually considered in terms of Natural environment, environmental, economic and social impacts, full or true cost efforts are collectively called the "triple bottom line". Many standards now exist in this area including Ecological Footprint, eco-labels, and the United Nations ICLEI, International Council for Local Environmental Initiatives approach to triple bottom line using the ecoBudget metric. The International Organization for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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