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| Author: | Weitzman, M. Lofgren, K.-G. |
| Title: | On the welfare significance of green accounting as taught by parable |
| Journal: | Journal of Environmental Economics and Management
1997 : FEB, VOL. 32:2, p. 139-153 |
| Index terms: | WELFARE ACCOUNTING ENVIRONMENT |
| Language: | eng |
| Abstract: | "Green NNP" is a national accounting concept that subtracts off from GNP not just deprecation of capital, but also depletion of environmental assets. For a time-autonomous technology, Green NNP has a rigorous welfare interpretation as an exact measure of the economy's future power to consume. The present paper extends the standard framework to cover the case of labour-augmenting technological process. For this special case of time dependence, a powerful conceptual parable applies. |
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