Shane: > > To start with, GDP includes as positive the "product" of mines, oil wells, > forests, etc. So instead of a plus sign before all those "values" there > should be a minus sign. And the "value" of environmentally destructive > activities should incur a debit representing the cost of repairing the > destruction (that is, of holding "social capital" constant.)
Maximum Max: > Right. As you probably know, there is something like this embodied in the > tax system through a depletion allowance for the extraction of oil. > Funny thing is, if we were more consistent about this, there would be a less > GDP since provision of labor services is a debit in terms of leisure time. > ... > Makes me wonder about orthodox income accounting. I'll have to take another > look at those satellite accounts.< the "Genuine Progress Indicator" subtracts resource depletion from GDP and adds in the benefits of leisure time, among a bunch of other corrections. See the Redefining Progress web-site. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
