is growth good? gary flomenhoft vt law school june 11, 2004
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Is Growth Good?Gary FlomenhoftVT Law SchoolJune 11, 2004
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HWI vs GDP/CAP PPP y = 17.117Ln(x) - 101.27
R2 = 0.8012
0
10
20
30
40
50
60
70
80
90
$0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000
GDP-CAP PPP
HWI
Human Welfare Index and GDP
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HDI v GDP/CAP PPPy = 14.792Ln(x) - 55.199
R2 = 0.8663
0
20
40
60
80
100
120
$0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000
GDP/CAP PPP
HDI
UN Human Development Index and GDP
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Life Satisfaction and Happiness vs. GDP
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Put amount needed to be happy here.
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I. Crime & Family Breakdown(legal fees, medical expenses, damage to property, crime and divorce.)
II. Household & Volunteer Work
III. Income Distribution
IV. Resource Depletion(Wetlands, farmland, and nonrenewable minerals (including oil) )
V. Pollution
VI. Long-Term Environmental Damage
VII. Changes in Leisure Time
VIII. Defensive Expenditures(Medical and repair bills from automobile accidents, commuting costs, and household expenditures on pollution control devices such as water filters.) IX. Lifespan of Consumer Durables & Public Infrastructure
X. Dependence on Foreign Assets
GPI Factors
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Column A: Personal Consumption ExpendituresColumn B: Income DistributionColumn C: Personal Consumption Adjusted for Income InequalityColumn D: Va lue of Household LaborColumn E: Va lue of Volunteer WorkColumn F: Services of Household CapitalColumn G: Services Highways and StreetColumn H: Cost of CrimeColumn I: Cost of Family BreakdownColumn J: Loss of Leisure TimeColumn K: Cost of UnderemploymentColumn L: Cost of Consumer DurablesColumn M: Cost of CommutingColumn N: Cost of Household Pollution AbatementColumn O: Cost of Automobile AccidentsColumn P: Cost of Water PollutionColumn Q: Cost of Air PollutionColumn R: Cost of Noise PollutionColumn S: Loss of WetlandsColumn T: Loss of FarmlandColumn U: Depletion of Nonrenewable ResourcesColumn V: Long-Term Environmental DamageColumn W: Cost of Ozone DepletionColumn X: Loss of Forest CoverColumn Y: Net Capital InvestmentColumn Z: Net Foreign Lending and Borrowing
GPI by Column
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“When to Stop” Rule
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Total Utility and Marginal Utility of Growth
Total utility
Marginal utility
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Full World or Empty World?
Source:
Ecological Economics Principles & Applications,
Farley and Daly
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ESA Listings and GDP
0
200
400
600
800
1000
1200
1400
1973 1980 1990 2001
$10
$9
$8
$7
$6
$5
$4
$3
R2 = 98.4
Source: The Wildlife Society Technical Review 2003-1.
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Source:
Center for
A New
American
Dream
If World consumption = US: Need 4 more planets
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Grow out of poverty?Poverty rate vs. GDP per Capita (1996$)
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
1959196119631965196719691971197319751977197919811983198519871989199119931995199719992001
8%
10%
12%
14%
16%
18%
20%
per capita GDP (1996$) poverty rate
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Real Wages and productivity 1948-2002
Hourly Real wages (2002$) and Labor Productivity
$0.00
$2.00
$4.00
$6.00
$8.00
$10.00
$12.00
$14.00
$16.00
$18.00
1947195019531956195919621965196819711974197719801983198619891992199519982001
0
20
40
60
80
100
120
140
160
Cumulative Increase in Labor Productivity
real wages manufacturing LP non-farm business LP
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Fundamental
Human Needs
Being
(qualities)
Having
(things)
Doing
(actions)
Interacting
(settings)
Subsistence physical and
mental health
food, shelter
work
feed, clothe,
rest, work
living environment,
social setting
Protection care,
adaptability
autonomy
social security,
health systems,
work
co-operate,
plan, take care
of, help
social environment,
dwelling
Affection respect, sense
of humour,
generosity,
sensuality
friendships,
family,
relationships
with nature
share, take care of,
make love, express
emotions
privacy,
intimate spaces
of togetherness
Understanding critical
capacity,
curiosity, intuition
literature,
teachers, policies
educational
analyse, study,meditate
investigate,
schools, families
universities,
communities,
Participation receptiveness,
dedication,
sense of humour
responsibilities,
duties, work,
rights
cooperate,
dissent, express
opinions
associations,
parties, churches,
neighbourhoods
Leisure imagination,
tranquillity
spontaneity
games, parties,
peace of mind
day-dream,
remember,
relax, have fun
landscapes,
intimate spaces,
places to be alone
Creation imagination,
boldness,
inventiveness,
curiosity
abilities, skills,
work,
techniques
invent, build,
design, work,
compose,
interpret
spaces for
expression,
workshops,
audiences
Identity sense of
belonging, self-
esteem,
consistency
language,
religions, work,
customs,
values, norms
get to know
oneself, grow,
commit oneself
places one
belongs to,
everyday
settings
Freedom autonomy,
passion, self-esteem,
open-mindedness
equal rights dissent, choose,
run risks, develop
awareness
anywhere