Article ID Journal Published Year Pages File Type
5050495 Ecological Economics 2011 5 Pages PDF
Abstract

We “extend” standard arguments for greening the product side of the national accounts to the income side of the accounts and turn up an anomaly. For an economy with oil use, no entry for oil income, a supposed primary factor, appears in the income side of the national accounts when the depletion of natural capital is accounted for on the product side of the accounts. We resolve this issue by applying an income definition developed in the theory of national accounting. This, however, leads to another anomaly on the income side of the national accounts.

► Resource value absent from income. ► Compare national income and product. ► Exhaustible resource depreciation.

Keywords
Related Topics
Life Sciences Agricultural and Biological Sciences Ecology, Evolution, Behavior and Systematics
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