Time Series Analysis Of The ISEW At
The Local (regional) Level: Method And Intent
Author(s)
F. Ciampalini, R. Ridolfi, F. M. Pulselli & N. Marchettini
Abstract
This paper presents a time series analysis of the Index of Sustainable Economic
Welfare (ISEW). It is a measure, alternative to GDP, that in accordance with the
principles of sustainability takes into consideration environmental and social
aspects within the traditional economic accounting system. The Index is
calculated for an Italian Province from 1971 to 2003 and it will be compared
with the provincial GDP during the same period. A growing gap between the two
monetary values (GPI grows faster then ISEW) has been occurring consistently
with the national trend. This means that part of the wealth which GDP asserts
does not correspond to welfare. The ISEW monetizes this gap in order to orient
decisions for a more sustainable way of life and more correct policies.
Keywords: GDP, ISEW, welfare, sustainability, ecological economics.
1 Introduction
This paper represents one of the many examples, in this case an ecological
economics initiative, where it’s possible to find a political planning where
economy and ecology speak the same language and rely on the research and
university for building their future society in which the unique development to
wish is the sustainable one. Ecological Economics offers this potential because it
is built around a more complex understanding of human society that transcends
the traditional economic vision [1].
The economic system is an open subsystem of a larger but finite and nongrowing
ecosystem; so no infinite economic growth is possible in a finite world.
Society is nowadays moving from a relatively empty world to a relatively full
world, and an exclusive emphasis on economic growth could produce serious,
and possibly irreversible, ecological damages.
Keywords
GDP, ISEW, welfare, sustainability, ecological economics.
Related Book
Other papers in this volume
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