Importance of valuation of environment, Public Economics

Importance of Valuation of Environment

There are four distinct types of capital stock that contribute to economic development, viz. man-made capital, human capital, social capital and natural capital. In traditional parlance the input 'capital' is meant to be the man-made capital (also called physical capital). In recent years a lot of research is being undertaken in measurement of the contribution of 'social capital' (which is anthropogenic) and 'natural capital' (which reflects the stock of natural resources) to economic development.

Keeping in view its durability and generation of a flow of valuable goods and services, the stock of natural resources is termed natural capital. By putting in his labour, human capital converts natural capital to manufactured (physical) capital. It is argued that perfect and unlimited substitution between physical capital and natural capital cannot take place since manmade capital cannot be created and sustained without the help of energy and natural resources.

Posted Date: 12/18/2012 4:30:22 AM | Location : United States







Related Discussions:- Importance of valuation of environment, Assignment Help, Ask Question on Importance of valuation of environment, Get Answer, Expert's Help, Importance of valuation of environment Discussions

Write discussion on Importance of valuation of environment
Your posts are moderated
Related Questions
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

What are objectives of fiscal policy

Question 1: "A Policy may be defined as a major course of action within a given environment intended to reach a goal or realize an objective." Give an account of the making

what are the strengths and limitations of a pluralist society

Related Goods Approaches - Direct Substitute Approach Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInterne


Explain the nature &importance of micro economic?

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

1.) In what way is insurance for medical loss/illness differ from insurance for any type of property loss?