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Green National Accounting and Sustainability

Edited by Karl-Gustaf Löfgren, Professor of Economics, Umeå University, Sweden and Chuan-Zhong Li, Professor of Economics, Uppsala University, Sweden
Concerns about natural resource scarcity, together with the increased awareness of environmental problems, has led to widespread interest in green accounting, which attempts to extend the standard national accounts to include the yields from natural and environmental resources. For this volume, Professors Löfgren and Li have selected the classic articles in this rapidly growing area, with particular reference to sustainability. They have also written an authoritative new introduction which offers a comprehensive overview of the literature both from a historical and a formal theoretical perspective.
Extent: 768 pp
Hardback Price: $431.00 Web: $387.90
Publication Date: 2011
ISBN: 978 1 84844 691 5
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  • Economics and Finance
  • Environmental Economics
  • Environment
  • Environmental Economics
Concerns about natural resource scarcity, together with the increased awareness of environmental problems, has led to widespread interest in green accounting, which attempts to extend the standard national accounts to include the yields from natural and environmental resources. For this volume, Professors Löfgren and Li have selected the classic articles in this rapidly growing area, with particular reference to sustainability. They have also written an authoritative new introduction which offers a comprehensive overview of the literature both from a historical and a formal theoretical perspective.

This volume will be an invaluable reference source for scholars and practitioners seeking an in-depth understanding of the main issues in this important field.
‘Green National Accounting and Sustainability is an impressive body of work and the result of painstaking, peer reviewed research making it a mandatory and core addition to professional and academic library economics reference collections and supplemental economics curriculum reading lists.’
– Midwest Book Review
36 articles, dating from 1906 to 2003
Contributors include: G. Chilchilnisky, P. Dasgupta, J.M. Hartwick, J.R Hicks, K.-G. Mäler, W.D. Nordhaus, P.A. Samuelson, J.E. Stiglitz, M.L. Weitzman
Contents:

Acknowledgements

Introduction Karl-Gustaf Löfgren and Chuan-Zhong Li

PART I GENERAL GROWTH AND ACCOUNTING
1. Irving Fisher ([1906] 1965), ‘Income’
2. Erik Lindahl (1933), ‘The Concept of Income’
3. J.R. Hicks (1939), ‘Income’
4. Paul A. Samuelson (1961), ‘The Evaluation of “Social Income”: Capital Formation and Wealth’
5. William D. Nordhaus and James Tobin (1972), ‘Is Growth Obsolete?’
6. Martin L. Weitzman (1976), ‘On the Welfare Significance of National Product in a Dynamic Economy’
7. David W. Pearce and Giles D. Atkinson (1993), ‘Capital Theory and the Measurement of Sustainable Development: An Indicator of “Weak” Sustainability’
8. Robert Solow (1993), ‘An Almost Practical Step Toward Sustainability’
9. Thomas Aronsson and Karl-Gustaf Löfgren (1995), ‘National Product Related Welfare Measures in the Presence of Technological Change: Externalities and Uncertainty’
10. Geir B. Asheim (1994), ‘Net National Product as an Indicator of Sustainability’
11. Martin L. Weitzman (2001), ‘A Contribution to the Theory of Welfare Accounting’
12. Kenneth J. Arrow, Partha Dasgupta and Karl-Göran Mäler (2003), ‘Evaluating Projects and Assessing Sustainable Development in Imperfect Economies’

PART II GROWTH AND THE ENVIRONMENT INCLUDING NATURAL RESOURCES
13. Lewis Cecil Gray (1914), ‘Rent Under the Assumption of Exhaustibility’
14. Harold Hotelling (1931), ‘The Economics of Exhaustible Resources’
15. Colin W. Clark (1973), ‘Profit Maximization and the Extinction of Animal Species’
16. Joseph E. Stiglitz (1976), ‘Monopoly and the Rate of Extraction of Exhaustible Resources’
17. M.L. Cropper (1976), ‘Regulating Activities with Catastrophic Environmental Effects’
18. John M. Hartwick (1977), ‘Intergenerational Equity and the Investing of Rents from Exhaustible Resources’
19. P.S. Dasgupta and G.M. Heal (1979), ‘The Optimal Depletion of Exhaustible Resources’
20. William A. Brock (1977), ‘A Polluted Golden Age’
21. William D. Nordhaus (1993), ‘Rolling the “DICE”: An Optimal Transition Path for Controlling Greenhouse Gases’
22. Olli Tahvonen and Jari Kuuluvainen (1993), ‘Economic Growth, Pollution, and Renewable Resources’
23. Graciela Chichilnisky (1996), ‘An Axiomatic Approach to Sustainable Development’
24. Chuan-Zhong Li and Karl-Gustaf Löfgren (2000), ‘Renewable Resources and Economic Sustainability: A Dynamic Analysis under Heterogeneous Time Preferences’

PART III NATURAL RESOURCES AND ENVIRONMENTAL ACCOUNTING
25. Wassily Leontief (1970), ‘Environmental Repercussions and the Economic Structure: An Input–Output Approach’
26. Robert Repetto, William Magrath, Michael Wells, Christine Beer and Fabrizio Rossini (1992), ‘Wasting Assets: Natural Resources in the National Income Accounts’
27. Robert Eisner (1996), ‘Expansion of Boundaries and Satellite Accounts’
28. Salah El Serafy (1989), ‘The Proper Calculation of Income from Depletable Natural Resources’
29. John M. Hartwick (1990), ‘Natural Resources, National Accounting and Economic Depreciation’
30. Karl-Goran Mäler (1991), ‘National Accounts and Environmental Resources’
31. Lars Hultkrantz (1992), ‘National Account of Timber and Forest Environmental Resources in Sweden’
32. Thomas Aronsson (1998), ‘Welfare Measurement, Green Accounting and Distortionary Taxes’
33. Kirk Hamilton and Michael Clemens (1999), ‘Genuine Savings Rates in Developing Countries’
34. Rashid M. Hassan (2000), ‘Improved Measure of the Contribution of Cultivated Forests to National Income and Wealth in South Africa’
35. Eric Neumayer (2000), ‘Resource Accounting in Measures of Unsustainability: Challenging the World Bank’s Conclusions’
36. Jeffrey R. Vincent (2002), ‘Genuine Savings and Long-Run Competitiveness in Latin America’