Green accounting, Public Economics

Green Accounting

The measures like Gross Domestic Product (GDP) and Net Domestic Product (NDP) have been the key indicators in economic policy. They have become so much a part of our life that it is hard to remember that they are hardly fifty years old.

They were first published in the United States in the year 1942. These measures are part of the national income accounts developed in each country whose objective is to provide a database for macroeconomic analysis. The aim of national income accounting is to provide an information framework suitable for analyzing the performance of the economic system.

These indicators were for a long time used as a measure of economic progress of an Environment country and also as a measure of standard of living. However, these traditional measures of economic activity (such as GDP and NDP) are now recognized as inadequate as they cannot accurately measure the contribution of environment and the impact of economic activities on environment. The environment, as we all know, is a source of raw materials and energy, serves as assimilator of wastes of production and consumption, provides the context in which all human actions take place and sustains basic life-support systems. Hence, efforts should be made to incorporate environment/natural resources into the national income accounts so as to get a better indicator of economic progress and well-being. 

In the present unit a brief review of the existing system of national income accounts is presented explicitly pointing out the flaws in the system and how the drawbacks or deficiencies in the existing system can be rectified and better indicators of human well-being are constructed.


Posted Date: 12/18/2012 1:19:31 AM | Location : United States

Related Discussions:- Green accounting, Assignment Help, Ask Question on Green accounting, Get Answer, Expert's Help, Green accounting Discussions

Write discussion on Green accounting
Your posts are moderated
Related Questions
Problem: (a) What do you meant by public policy? What does the study of public policy involve? (b) How are problems that might lead to public policy identified and defined?

Assignment This assignment will provide you with insight on how others perceive you. It will be particularly useful in situations in which you find differences in self-other resul

3 voters, A, B, and C, will decide by majority rule whether to pass bills on issues X and Y. Every of the two issues will be voted on indiviually. The change in net profits (in dol

(b) Assess the application of Kaldor’s compensation principle in resolving Pareto non-comparability and explain how the principle differs from the Hick''s compensation principle

Explain how the price system answers the five fundamental questions of economics, and talk about at least two of the short-comings of the capitalist price and market system.

PIGOVIAN APPROACH   Pigou assumed  that  the aim  of  social policy is  to  'promote welfare'. But  in order to simplifL  this, he chose to restrict the range of his inquiry to

A variety of interventions can affect outcomes. The important one are, intervention to solve coordination problem, information as an interventions, interventions to change the dyn

Quantitative policy process depends on a portfolio of tools that have been drawn from a variety of disciplines besides discretionary political decision. Over the past two decades

Flaws in Conventional System -  Inconsistent Treatment Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftIntern

Q. Define Heterogeneity? We know that breaking of the assumptions of homogeneity of agents, in welfare economics, makes it difficult to define social welfare function. Breakin