Biology 2485B Lecture Notes - Lecture 1: Genuine Progress Indicator, Economic Indicator, Index Of Sustainable Economic Welfare
17 Sep 2018
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Document Summary
Goods - are tangible material things that can be extracted from the environment: example; food, water, mineral and energy resources, and materials for shelter. Services - functions and processes that are useful or even vital in the support of living organisms: not relatively easy to assign dollar value to them, example; nutrient cycling by soils in support of crop growth. Understand what it meant when we say that the environment has intrinsic value: there are other ways of assigning value to something other than monetary value, example; beautiful view might offer aesthetic value. Genuine progress indicator (gpi) - economic indicator that differentiates between desirable and undesirable economic activity. Index of sustainable economic welfare (isew) - based on income, wealth distribution, the value of volunteerism, and natural resources depletion. Strength - it measures peoples expressed preferences, while other methods aim to measures people"s revealed preferences.
