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ISEW
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 welf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 welfar ... [...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 acti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Broad Measures Of Economic Progress
Although for many decades, it was customary to focus on GDP and other measures of national income, there has been growing interest in developing broad measures of economic well-being. National and international approaches include thBeyond GDPprogramme developed by the European Union, the Better Lives Compendium of Indicators developed by the OECD, as well as many alternative metrics of wellbeing or happiness. One of the earliest attempts to develop such an index at national level was Bhutan's Gross National Happiness Index and there are a now a number of similar projects ongoing around the world, including a project to develop for the UK an assessment of national well-being, commissioned by the Prime Minister David Cameron and led by the Office for National Statistics. GNH The Gross National Happiness (GNH) phrase was initially used as an off-hand remark by the King of Bhutan to indicate his lack of interest in western materialistic style of economic development. The imp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the per capita GDP (also called the Mean Standard of Living). GDP definitions are maintained by a number of national and international economic organizations. The O ... [...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 o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Herman Daly
Herman Edward Daly (July 21, 1938 – October 28, 2022) was an American Ecological economics, ecological and Georgism#Georgism and environmental economics, Georgist economist and professor at the University of Maryland School of Public Policy, School of Public Policy of University of Maryland, College Park in the United States, best known for his time as a senior economist at the World Bank from 1988 to 1994. In 1996, he was awarded the Right Livelihood Award for "defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community." Life and work Dale was born in Houston, Texas in 1938. Before joining the World Bank, Daly was a research associate at Yale University, and Alumni Professor of Economics at Louisiana State University. Daly was Senior Economist in the Environment Department of the World Bank, where he helped to develop policy guidelines related to sustainable development. While there, he was engaged in env ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disability-adjusted Life Year
The disability-adjusted life year (DALY) is a measure of overall disease burden, expressed as the number of years lost due to ill-health, disability or early death. It was developed in the 1990s as a way of comparing the overall health and life expectancy of different countries. The DALY has become more common in the field of public health and health impact assessment (HIA). It not only includes the potential years of life lost due to premature death, but also includes equivalent years of 'healthy' life lost by virtue of being in states of poor health or disability. In so doing, mortality and morbidity are combined into a single, common metric. Calculation The disability-adjusted life year is a societal measure of the disease or disability burden in populations. DALYs are calculated by combining measures of life expectancy as well as the adjusted quality of life during a burdensome disease or disability for a population. DALYs are related to the quality-adjusted life ye ... [...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 gr ... [...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 sustain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bhutan GNH Index
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 towa ... [...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 Fin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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