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
Contingent  Valuation Method Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

examine the efficiency of quantitative credit control instruments.


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

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

Consider two different consumer-directed health plans. One has a $5000 deductible, with the insurance paying for all care after the deductible has been met. The other has a $2000 d

Q. Who permits government whatever it does? The simple answer can be: people in a democracy and the monarch/dictator in a monarchy/dictatorship. But neither monarchy exists in

how wage increase of fixed income groups'' will affect the overall economy? what are effects exactly?

Question: (a) Jeffrey Sachs, Columbia University's Earth Institute Development Guru, opines that the humble mobile phone is "the single most transformative tool for developmen

One shortcoming of neoclassical welfare economics is that it does not take into account the institutional structure of collective decision making. To draw normative conclusions abo