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Beyond GDP = national accounting in ...

Heun, Matthew Kuperus.

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Beyond GDP = national accounting in the age of resource depletion /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Beyond GDP/ by Matthew Kuperus Heun, Michael Carbajales-Dale, Becky Roselius Haney.
Reminder of title:	national accounting in the age of resource depletion /
Author:	Heun, Matthew Kuperus.
other author:	Carbajales-Dale, Michael.
Published:	Cham :Springer International Publishing : : 2015.,
Description:	xxvii, 201 p. :ill., digital ;24 cm.
[NT 15003449]:	Introduction: The end of an era -- Accounting for the wealth of nations -- Stocks and flows of materials -- Flows of Direct Energy -- Stocks and flows of embodied energy -- Stocks and flows of economic value -- Energy intensity -- Implications -- Next steps.
Contained By:	Springer eBooks
Subject:	Welfare economics. -
Online resource:	http://dx.doi.org/10.1007/978-3-319-12820-7
ISBN:	9783319128207 (electronic bk.)

Beyond GDP = national accounting in the age of resource depletion /
Heun, Matthew Kuperus.

Beyond GDPnational accounting in the age of resource depletion /[electronic resource] :by Matthew Kuperus Heun, Michael Carbajales-Dale, Becky Roselius Haney. - Cham :Springer International Publishing :2015. - xxvii, 201 p. :ill., digital ;24 cm. - Lecture notes in energy,v.262195-1284 ;. - Lecture notes in energy ;13..

Introduction: The end of an era -- Accounting for the wealth of nations -- Stocks and flows of materials -- Flows of Direct Energy -- Stocks and flows of embodied energy -- Stocks and flows of economic value -- Energy intensity -- Implications -- Next steps.

This book uses the metaphor "The economy is society's metabolism" as a springboard to develop a rigorous theoretical framework for a better system of national accounts which goes "Beyond GDP" and is relevant to the age of resource depletion. All stakeholders need a new way to understand our economy in the context of the biosphere's ability to provide essential natural capital, and the authors suggest that detailed information about materials, energy, embodied energy, and energy intensity should be routinely gathered, analyzed, and disseminated from a centralized location to provide markets and policymakers with a more comprehensive understanding of the biophysical economy. After arguing that the stock of manufactured capital is an important driver of material and energy demands imposed upon the biosphere, a new accounting framework is derived from the laws of thermodynamics to reflect the fact that material and embodied energy accumulate within the capital stock of economic sectors. This framework extends the Energy Input-Output (EI-O) techniques first developed by Bullard, Herendeen, and others to estimate energy intensity of economic products. Implications from the new framework are discussed, including the value of economic metrics for policy-making, the need for physically-based rather than product-based EI-O formulations, a re-assessment of the concept of economic "growth," and an evaluation of recycling, reuse, and dematerialization. The framework also provides an opportunity to assess an array of definitions for Daly's "steady-state economy" in relation to the ideal of a sustainable economy. The book ends with a list of steps to be taken toward creating a more comprehensive system of national accounts: National accounting agencies worldwide should develop and maintain balance sheets of both natural and manufactured capital in addition to national income statements, All stocks and inter-sector flows should be provided in physical as well as financial units, In the US, the Bureau for Economic Analysis (BEA) should restart detailed Capital, Labor, Energy, Material, and Services (KLEMS) reporting, National accounting agencies should routinely estimate the energy intensity of economic products, and all of the above should be estimated and disseminated on an annual basis.

ISBN: 9783319128207 (electronic bk.)

Standard No.: 10.1007/978-3-319-12820-7doiSubjects--Topical Terms:

533439
Welfare economics.

LC Class. No.: HB846

Dewey Class. No.: 330.126

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245 1 0 $a Beyond GDP $h [electronic resource] : $b national accounting in the age of resource depletion / $c by Matthew Kuperus Heun, Michael Carbajales-Dale, Becky Roselius Haney.
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505 0 $a Introduction: The end of an era -- Accounting for the wealth of nations -- Stocks and flows of materials -- Flows of Direct Energy -- Stocks and flows of embodied energy -- Stocks and flows of economic value -- Energy intensity -- Implications -- Next steps.
520 $a This book uses the metaphor "The economy is society's metabolism" as a springboard to develop a rigorous theoretical framework for a better system of national accounts which goes "Beyond GDP" and is relevant to the age of resource depletion. All stakeholders need a new way to understand our economy in the context of the biosphere's ability to provide essential natural capital, and the authors suggest that detailed information about materials, energy, embodied energy, and energy intensity should be routinely gathered, analyzed, and disseminated from a centralized location to provide markets and policymakers with a more comprehensive understanding of the biophysical economy. After arguing that the stock of manufactured capital is an important driver of material and energy demands imposed upon the biosphere, a new accounting framework is derived from the laws of thermodynamics to reflect the fact that material and embodied energy accumulate within the capital stock of economic sectors. This framework extends the Energy Input-Output (EI-O) techniques first developed by Bullard, Herendeen, and others to estimate energy intensity of economic products. Implications from the new framework are discussed, including the value of economic metrics for policy-making, the need for physically-based rather than product-based EI-O formulations, a re-assessment of the concept of economic "growth," and an evaluation of recycling, reuse, and dematerialization. The framework also provides an opportunity to assess an array of definitions for Daly's "steady-state economy" in relation to the ideal of a sustainable economy. The book ends with a list of steps to be taken toward creating a more comprehensive system of national accounts: National accounting agencies worldwide should develop and maintain balance sheets of both natural and manufactured capital in addition to national income statements, All stocks and inter-sector flows should be provided in physical as well as financial units, In the US, the Bureau for Economic Analysis (BEA) should restart detailed Capital, Labor, Energy, Material, and Services (KLEMS) reporting, National accounting agencies should routinely estimate the energy intensity of economic products, and all of the above should be estimated and disseminated on an annual basis.
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