Tom Walker wrote: > Philip Lawn argues that GPI and the ISEW (index of sustainable economic > welfare) don't merely add and subtract components to GDP but are based on a > "Fisherian" concept of income. I'm not sure how that works out in practice > but that's what he says.
I don't know the "Fisherian" concept, but if you look at the appendix of the last GPI pamphlet, it's mostly based on adding up benefits and subtracting costs using shadow prices (i.e., using the wage to measure the value of leisure time). The exception to this rule is the adjustment for the unequal distribution of income. -- 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
