Uses of revised indicators of national wealth, Public Economics

Uses of Revised Indicators of National Wealth

Not only this, the revised indicators of national wealth can also be used,

(i)  To compare  the standard  of living  over  time,

(ii) To  compare  the standard  of living across countries,

(iii) As an indicator of necessary consumption, and

(iv)  As a benefit-cost decision rule (i.e. to know whether or not a project having impact on environment should be undertaken).

There are other uses of these accounts for policy like the measurement of physical resource scarcity, valuation of depletion, measuring the incidence and burden of existing regulations and taxes, estimating emission taxes and providing environmental components of existing macro-policy models.

 

Posted Date: 12/18/2012 2:54:27 AM | Location : United States







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