umwelt und nachhaltige entwicklung 3.1 the deficiencies of gdp related measures clemens bachmann...
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Umwelt und Nachhaltige Entwicklung
3.1 The deficiencies of GDP related measures
Clemens BachmannThomas Haid
Siegfried Lindner
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The GDP
The GDP is the amount of all goods and services produced in one period, usually one year, in a particular geographic area, usually a country.
There are three ways to calculate:
• the expenditure
• the production side
• the income side.
All three methods should give the same result.
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The components
GDP (Y) =C+I+G+NX• C (consumption)
• I (investment)
• G (government spending)
• NX (net exports)
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From GDP to Personnel disposable income
X-ZGDP
Depreciation
G
NDP Indirect Taxes
Personnel Income
I
National Income
Personnel disposable
incomeC
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The circular flow concerning GDP
• monetary unit spend = monetary unit received by someone
• households are the proprietor of all factors of production, such as labor, capital, land and owner of businesses
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GDP and National Welfare
GDP ≠ Nationale Welfare
GDP is not a measure of economic well-being.
• achievements that increase well being are not counted because they are no market activities.
• unpaid work, such as voluntary activities
• work in the private sphere
• domestic work
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Potential and limits of GDP
• high and rising level of inequality
• depreciation of capital goods
• depletion of natural resources
• degradation of the environment
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Other indicators besides GDP
• Genuine Progress Indicator
• Happy Planet Index
• Human Development Index (HDI)
• Extended Economic Indicators
• Environmental Performance Index
• Genuine Savings
• Ecological Footprint
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Genuine Progress Indicator
The GPI is used for green economics, sustainability, ecological economics, and more inclusive types of economics commonly known
as welfare economics.
GPI includes
• economic contributions of households
• volunteer work, crime, pollution and family breakdown
GPI takes into account more than twenty aspects of our economic lives as the GDP.
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Happy Planet Index
The Happy Planet Index shows the relative efficiency with which nations convert the
planet’s natural resources into long and happy lives for their citizens.
• First Index measure the environmental efficiency
• three separate indicators
• life expectancy
• life-satisfaction
• ecological footprint
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Thank you for your attention !