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Topic: Index of Sustainable Economic Welfare

	Welfare Economics
		Welfare economy - Welfare Economics means using Economics for the welfare of the society.Economics in its narrower sense is the proper utilization of the resources of a family to satisfy the wants of the daily life of its members.
		This sheds light on the future of the welfare state welfare economics and economic governance in a globalizing world, welfare economics and the complementarities welfare economics and synergiesbetween economic welfare economics and welfare state governance.
		The book covers public choice, welfare economics and the issues of efficient provision of public goods, government failures, welfare economics and efficient welfare economics and optimal taxation, concluding with an examination of applied welfare economics, methods for revealing people's preferences, cost-benefit analysis, welfare economics and project evaluation in a risky world.
	www.cutetheory.com /welfareeconomics.html (755 words)

	Scope 58 - Box 3W
		A pilot UK ISEW for the period from 1950 to 1990 was published in 1994 by the New Economics Foundation and the Stockholm Environment Institute.
		The full range of factors contributing to the Index is shown in table 1, together with the values which these factors assume at the beginning, middle and end of the study period.
		Sustainable economic welfare rose in the UK from about 1950 to around the mid-1970s, more or less in line with the rise in economic output.
	www.icsu-scope.org /downloadpubs/scope58/box3w.html (1837 words)

	Sustainable Measures - What is an indicator of sustainability?
		Sustainability requires this type of integrated view of the world -- it requires multidimensional indicators that show the links among a community's economy, environment, and society.
		It is generally reported as a measure of the country's economic well-being: the more money being spent, the higher the GDP and the better the overall economic well-being is assumed to be.
		In contrast, a comparable sustainability indicator is the Index of Sustainable Economic Welfare.
	www.sustainablemeasures.com /Indicators/WhatIs.html (856 words)

	Index of Sustainable Economic Welfare - Wikipedia, the free encyclopedia
		The Index of Sustainable Economic Welfare is an economic indicator intended to replace the gross domestic product.
		Index of Sustainable Economic Welfare (ISEW) is roughly defined by the following formula.
		The index is based on the ideas presented by Nordhaus and Tobin in their Measure of Economic Welfare.
	en.wikipedia.org /wiki/Index_of_Sustainable_Economic_Welfare (162 words)

	Growth & Employment 2 - # 3 Macro Economic Perspective (Site not responding. Last check: 2007-11-05)
		The discipline of economics can be taken to operate on the basis of a rather broad definition of what welfare means: the degree to which people's needs and preferences are met, including their environmental preferences.
		If one takes a reductionist's economic approach, one could reduce welfare to something called "sustainable income", or: the maximum amount of consumption in a given period, under the assumption that future consumption prospects would not be less than those at the beginning of the period.
		Traditionally, economic bookkeeping extends to the market values of net additions to production plus the labour costs of government services; the total of this GDP is corrected for some mutations in the stock of produced capital (and not, or hardly, of human and environmental capital), which makes both NNI and GDP incorrect welfare measures.
	www.jaysquare.com /resources/workdocs/wdoc11b.htm (1773 words)

	IV. ECONOMIC SUSTAINABILITY
		No economic system is sustainable unless it accommodates the ecosystems on which it depends.
		Humanizing economic relations is just one aspect of our broader objective: to shift toward a different way of life characterized by sustainability, regionalization, more harmonious balance between the natural ecosphere and the human-made technosphere, and revival of community life.
		American economic growth is having negative effects on the long-term ecological and economic welfare of the United States and the world.
	www.gp.org /platform/2004/economics.html (5558 words)

	Glossary
		The union of economics and ecology, with the economy concieved as a subsystem of the earth ecosystem that is sustained by a metabolic flow or "throughput" from and back to the larger system.
		ISEW stands for Index of Sustainable Economic Welfare, and is calculated by adjusting Personal Consumption for various factors that affect either sustainability or welfare, either positively or negatively, such as depletion of natural capital, increasing
		Sustainable yield is the amount of an exploited population which can be harvested leaving the population undiminished in the following year; the growth rate of the existing stock.
	www.sustainablescale.org /glossary.aspx (1653 words)

	For the Common Good by Herman Daly & John Cobb Jr. - A Book Review by Scott London
		Their main goal is to deconstruct neoclassical economic theory and set forth a more holistic model that more fully accounts for the individual, the community, and the natural world.
		According to Daly and Cobb, contemporary economic theory holds to a crude, mechanistic worldview of homo economicus as an autonomous individual driven solely by self-interest and of society as an aggregate of such individuals.
		The dangers of free trade dogma and the fallacies of measuring economic welfare according to GNP will also have to be made evident, they observe.
	www.scottlondon.com /reviews/daly.html (843 words)

	Land and environmental degradation and desertification in Africa
		The issue at stake is the sustainable economic and social development of Africa for present and future generations.
		The behaviour of the economies tested in the Index of Sustainable Economic Welfare (ISEW) studies, points at a process of capital accumulation at the cost of the common good, but also that the costs of growing complexities are not understood (and even accounted for as income).
		For the case of Tigray, the test of the proposed approach which creates the forum for greater beneficiary participation in the development of the programmes to address the issues identified, was facilitated by the TGE policies on regionalisation, decentralization of authority and community participation.
	www.fao.org /docrep/x5318e/x5318e0a.htm (1754 words)

	Appendix E: Some Conceptual Frameworks (Site not responding. Last check: 2007-11-05)
		Despite the social and economic control required in the steady state economy, the point is made that freedom is to some extent a function of slack, of the distance between maximum carrying capacity and actual load.
		Economic development is defined in terms of an increase in efficiency rations, with stock constant, or an increase in service, with throughput constant.
		This index is internationally applicable and has already been applied by NGOs to a number of developed countries (for example, a UK version of the ISEW highlights the difference between per capita GNP growth in the UK (2.3 times greater in 1990 than in 1950) and the ISEW (virtually no growth over the same period).
	www.sustainableliving.org /appen-e.htm (8512 words)

	Article Index (Site not responding. Last check: 2007-11-05)
		Economism is leading us into catastrophes even worse that the religious wars of the early seventeenth century and the Second World War in our own.
		Instead, he proposes an Index of Sustainable Economic Welfare, and dvocates a new kind of economy, one based on the needs of the community, and suggests several steps to bring it about.
		Cobb examines the dynamics of growth and concludes that growth is quite different from sustaining the welfare of all citizens in a society.
	www.christianleaders.org /library/index_topic.htm (744 words)

	Climate Change 2001: Impacts, Adaptation and Vulnerability
		Calculations of the Index of Sustainable Economic Welfare (ISEW) by Daly and Cobb (1994) have shown, for example, that the ISEW for the United States has fallen since 1970 even though GDP has grown substantially.
		And if welfare involves having, being, doing, relating, and caring, a more complex measure of welfare is required to accommodate the multiple stresses of climate change.
		Fifth, the principle of "anonymity" that is used in welfare comparisons is highly suspect.
	www.pnl.gov /aisu/pubs/eemw/papers/ipccreports/workinggroup2/101.htm (425 words)

	WHAT'S WRONG WITH USING GNP?
		The simple law for whether an economic activity goes into the plus or minus column under the ISEW regime is simple: if it results in increased productivity over the long term then it goes into the plus column.
		In the ISEW, a nation is rewarded for conservation, prevention, and "R cubed" (reducing/reusing/recycling) and penalized for needless consumption, reactive spending, and the costs of reforming and repairing earlier mistakes.
		Perhaps, under the "world order" of ISEW, we might be surprised to find countries like the USA further from the top than we might expect (despite their 'sterling' performance in terms of GNP) forcing another kind of reckoning and an appreciation of what true national prosperity means.
	www.fiu.edu /~mizrachs/gnp-n-isew.html (1132 words)

	Earth Economics
		Ecosystem health is defined as a systematic approach to the preventative, diagnostic and programmatic aspects of management of human interaction with ecosystems, and to understanding the relationships between ecosystem health and human health.
		In general, environmental economics focuses almost exclusively on efficient allocation and accepts the assumption of neoclassical economics that the economic system is the whole and not a subsystem of the global ecosystem.
		An alternative to the GNP, the ISEW is calculated by adjusting personal consumption for various factors that affect either sustainability and welfare either positively or negatively, such as depletion of natural capital, increasing inequality in income distribution, defensive expenditures, and so on.
	www.eartheconomics.org /ecolecon/ee_definitions.html (1168 words)

	Re: ISEW (Site not responding. Last check: 2007-11-05)
		The Index of Sustainable Economic Welfare (ISEW) was developed by ecological economist Herman Daly (now at the World Bank) and theologian (yes, theologian) John Cobb, Jr.
		The ISEW is described in a fair amount of detail in a lengthy appendix to their book "FOR THE COMMON GOOD: REDIRECTING THE ECONOMY TOWARD COMMUNITY, THE ENVIRONMENT, AND A SUSTAINABLE FUTURE," 1989, Beacon Press, Boston, Massachusetts, USA).
		The ISEW is intended to be an alternative to the GNP as an economic of economic welfare, and corrects for some of the glaring deficiencies in the GNP.
	www.metla.fi /archive/forest/1993/09/msg00056.html (138 words)

	BRASS - Developing Sustainability Indicators for Wales: Index of sustainable economic welfare for Wales. (Site not responding. Last check: 2007-11-05)
		One problem that has come to the fore is that overarching Development of alternative economic indicators of sustainability in Wales, and construction and refinement of an index of sustainable economic welfare in Wales.
		The ISEW is an indicator of long run economic welfare.
		In constructing an ISEW the objective is to adjust elements of the accepted regional accounting framework for a series of determinants of welfare including income inequality, and activities adding to/taking away from welfare but outside market processes, environmental damage, and the use of environmental assets.
	www.brass.cf.ac.uk /projects/Measuring_Sustainability--Developing_Sustainability_Indicators.html (522 words)

	Sustainable Development's links abstract (Site not responding. Last check: 2007-11-05)
		With a focus equity and justice, and the rights and needs of poor people, IIED address the connections between economic development, the environment and human needs, with the aim to improve the management of natural resources so that communities and countries of the South can improve living standards without jeopardising their resource base.
		Its mission is to promote economically viable and socially desirable alternatives to the destruction of this endangered, biologically diverse natural resource, through education, research, and co-operative partnerships with businesses, governments and local peoples.
		UNDP's mission is to help countries in their efforts to achieve sustainable human development by assisting them to build their capacity to design and carry out development programmes in poverty eradication, employment creation and sustainable livelihoods, the empowerment of women and the protection and regeneration of the environment, giving first priority to poverty eradication.
	www.oecd.org /linklist/0,2678,en_2649_37425_2734400_1_1_1_37425,00.html (1675 words)

	Toward a Sustainable Future
		That is pretty firmly grounded in the law of diminishing marginal utility in economics, so we count income to the lower part more than income to the upper part.
		With the ISEW, we found that there was actually a slightly inverse correlation in recent times between GNP and welfare.
		In addition to that, [with increasing economic interdependence] people who are farther away from you - both physically and culturally - will have a greater impact on your life.
	multinationalmonitor.org /hyper/issues/1992/05/mm0592_09.html (2826 words)

	Our Gnp is Up; Our Welfare is Down
		According to the ISEW we are 50 percent better off than we were in 1950, but 10 percent worse off than we were in 1976.
		Some of the factors contributing to the welfare deterioration of the 1980s were less equitable income distribution, increasing foreign ownership of capital, and environmental damage.
		Daly and Cobb are under no illusion that their ISEW is the last word, or even a very precise word, on the measurement of national welfare.
	www.sustainer.org /dhm_archive/index.php?display_article=vn320indexed (843 words)

	SSRN-The Index of Sustainable Economic Welfare (ISEW) for Italy by Giorgio Guenno, Silvia Tiezzi
		Economists have used dynamic optimization to rigorously derive an index that can be used to evaluate small projects and their contribution to well being.
		We start from the Index of Sustainable Economic Welfare (ISEW) built up by Cobb and Daly in 1989 and we reproduce it for Italy, though revisiting the methodology associated to the construction of some of the variables.
		Guenno, Giorgio and Tiezzi, Silvia, "The Index of Sustainable Economic Welfare (ISEW) for Italy" (January 1998).
	papers.ssrn.com /sol3/papers.cfm?abstract_id=121989 (483 words)

	United Nations Division for Sustainable Development - Consumption and Production Patterns
		The Organisation for Economic Co-operation and Development (OECD) is now addressing the fact that 25 years of environment and waste policy related endeavors across OECD countries have not as yet produced any widely accepted indicators to measure performance in waste prevention.
		Friends of the Earth, the New Economics Foundation and the Centre for Environmental Strategy in the United Kingdom have put together a website on indicators of sustainable development - with a focus on the most widely used comparative index of well-being - the Index of Sustainable Economic Welfare (ISEW).
		The political opportunity in the UK is that the Government is currently rewriting its sustainable development indicators strategy, and the Parliamentary Environmental Audit Committee has called for new indicators of welfare to be developed.
	www.un.org /esa/sustdev/sdissues/consumption/cppnt3.htm (3162 words)

	Friends of the Earth: Policy and Research Unit: Measuring progress: ISEW explained (via CobWeb/3.1 ... (Site not responding. Last check: 2007-11-05)
		However, this is not a simple process - for ISEW is still an economic measure, and to make these corrections financial costs have to be assigned to non-financial impacts such as climate change and ozone depletion.
		However, it is fair to suggest that currently the weightings used in the ISEW could be arbitrary, or reflect the prejudices of the Index's creators.
		We hope this will show the ISEW to be relatively robust, that users' comments can highlight areas where improvements can be made, and that the values people choose can start to highlight which are the most important areas to be covered in any national indicator of welfare.
	www.foe.co.uk.cob-web.org:8888 /campaigns/sustainable_development/progress/templates/storyintro.html (388 words)

	Sustainable Solutions for an Overused World
		Everything you need to know about Pareto efficiency, Pigovian taxes, and welfare economics is explained in plain English, with all the caveats (the arguments pro and con and the reasons all this elegant economic theory may fail to apply to the real world) mentioned right up front.
		The Index of Sustainable Economic Welfare (ISEW) is explained at Friends of the Earth, UK.
		Sustainable Measures site describes indicators that measure progress toward a sustainable economy, society and environment.
	internet.cybermesa.com /~basecamp/growth.html (595 words)

	Index of Sustainable Economic Welfare (ISEW) at Noise Between Stations
		I was exposed to the ISEW by Josephine Green of Philips at the ID Design Strategy conference.
		She struck me as the female John Thakara: highly intelligent and morally scolding, and dropping in your lap the challenge of solving the problems she just convinced you are vitally important.
		The ISEW is one of the most advanced attempts to create an indicator of economic welfare.
	www.noisebetweenstations.com /personal/weblogs/?p=1670 (301 words)

	Foldvary: Presidential Candidates' Economic Policies
		I present here, based on statements they have made public in the Internet, the positions on economic issues of the presidential candidates of the Constitution, Democratic, Green, Libertarian, Nader-Reform, and Republican parties.
		This also diminishes the economic value of labor by decreasing the worker's purchasing power thus discouraging work.' 'We propose more progressive taxation.
		A small tax rate 'on stock, bond, and derivative transactions can produce tens of billions of dollars a year and displace some of the taxes on work and consumer essentials.' 'The present adjustment of Henry George's celebrated land tax could also be considered.' Nader also favors the retention of the estate tax.
	www.progress.org /2004/fold376.htm (1016 words)

	The Index of Sustainable Economic Welfare (ISEW) for a Local Authority: A Case Study in Italy
		The availability of data depends on the interest in implementing projects of sustainable management of natural resources and land on the part of local authorities and their consequent willingness to invest money and human resources on such projects.
		The ISEW is a good tool for local environmental policy, because it gives a more realistic representation of the well-being of the population than GDP, since it includes environmental and social items not considered in conventional national accounting.
		Arguably, local authorities should therefore allocate more resources to pursue their policies towards sustainability, an issue which modern electoral campaigns are often based on.
	ideas.repec.org /p/usi/wpaper/449.html (491 words)

	Ecological Accounting Workshop: Natural Capital and Sustainable Development
		"A third problem involves the assumption by neoclassical economic theory that humanly created capital is a near-perfect substitute for natural resources, and consequently for the stock of natural capital that yields the flow of these natural resources.
		The return on the renewable assets and the amount invested each year are such that when the non-renewable resource is exhausted, the new renewable assets will be yielding an amount equal to the income component of the receipts.
		Clifford W. Cobb, co-worker on "The Index of Sustainable Economic Welfare", the Appendix of For the Common Good: Redirecting the Economy toward Community, the Environment, and a Sustainable Future, by Herman E. Daly and John B. Cobb, Jr.
	www.ee.upenn.edu /~hunt/EcoAcctg.html (675 words)

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