Abstract
Deriving conceptually sound and useful indicators of sustainable development has been a challenge, not least because sustainability is inherently a concern about the future. Yet the question of indicators is key: without some means to quantify progress towards sustainability, all of the policy commitments by governments and institutions to achieving sustainable development risk becoming empty promises.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Aronsson, T., P.-O. Johansson and K.-G. Löfgren, 1997. Welfare Measurement, Sustainability and Green National Accounting: A Growth Theoretical Approach, Cheltenham: Edward Elgar.
Asheim, G. and W. Buchholz, 2004. A General Approach to Welfare Measurement Through National Income Accounting. Scandinavian Journal of Economics 106, 361–384.
Asheim, G.B. and M.L. Weitzman, 2001. Does NNP Growth Indicate Welfare Improvement? Economics Letters 73: 2, 233–239.
Dasgupta, P., 2001. Human Well-Being and the Natural Environment, Oxford: Oxford University Press.
Dasgupta, P. and G. Heal, 1979. Economic Theory and Exhaustible Resources, Cambridge: Cambridge University Press.
Dasgupta, P. and K.-G. Mäler, 2000. Net National Product, Wealth, and Social Well-Being. Environment and Development Economics 5, Parts 1&2, 69–93, February and May 2000.
Dixit, A., P. Hammond and M. Höel, 1980. On Hartwick’s Rule for Regular Maximin Paths of Capital Accumulation and Resource Depletion. Review of Economic Studies XLVII, 551–556.
El Serafy, S., 1989. The Proper Calculation of Income from Depletable Natural Resources, in Y. Ahmad, S. El Serafy and E. Lutz (eds), Environmental Accounting for Sustainable Development, Washington DC: The World Bank.
Ferreira, S. and J. Vincent, 2005. Genuine Savings: Leading Indicator of Sustain- able Development? Economic Development and Cultural Change 53: 3, 737–754.
Ferreira, S., K. Hamilton and J. Vincent, 2008. Comprehensive Wealth and Future Consumption: Accounting for Population Growth. World Bank Economic Review 22: 2, 233–248.
Fisher, I., 1906. The Nature of Capital and Income, New York: Macmillan.
Hamilton, K., 1995. Sustainable Development, the Hartwick Rule and Optimal Growth. Environmental and Resource Economics 5: 4, 393–411.
Hamilton, K. and M. Clemens, 1999. Genuine Savings Rates in Developing Countries. World Bank Economic Review 13: 2, 333–356.
Hamilton, K. and J.M. Hartwick, 2005. Investing Exhaustible Resource Rents and the Path of Consumption. Canadian Journal of Economics 38: 2, 615–621.
Hamilton, K. and C. Withagen, 2007. Savings Growth and the Path of Utility. Canadian Journal of Economics 40: 2, 703–713.
Hamilton, K., G. Ruta and L. Tajibaeva, 2006. Capital Accumulation and Resource Depletion: A Hartwick Rule Counterfactual. Environmental and Resource Economics 34, 517–533.
Hartwick, J.M., 1977. Intergenerational Equity and the Investing of Rents from Exhaustible Resources. American Economic Review 67: 5, 972–974.
Pearce, D.W. and G. Atkinson, 1993. Capital Theory and the Measurement of Sustainable Development: An Indicator of Weak Sustainability. Ecological Economics 8, 103–108.
Pearce, D.W., A. Markandya and E.B. Barbier, 1989. Blueprint For a Green Economy, London: Earthscan.
Pearce, D.W., K. Hamilton and G. Atkinson, 1996. Measuring Sustainable Development: Progress on Indicators. Environment and Development Economics 1, 85–101.
Pezzey, J., 2004. One-sided Sustainability Tests with Amenities, and Changes in Technology, Trade and Population. Journal of Environmental Economics and Management 48: 1, 613–631.
Samuelson, P., 1961. The Evaluation of ‘Social Income’: Capital Formation and Wealth, in F.A. Lutz and D.C. Hague (eds), The Theory of Capital, New York: St. Martin’s Press.
Smith, Adam, 1776. An Inquiry into the Nature and Causes of the Wealth of Nations, Chicago: University of Chicago Press, 1977.
Weitzman, M., 1976. On the Welfare Significance of National Product in a Dynamic Economy. Quarterly Journal of Economics 90: 1, 156–162.
World Bank, 2005. World Development Indicators, Washington: The World Bank.
World Bank, 2006. Where Is the Wealth of Nations? Measuring Capital for the 21st Century, Washington: The World Bank.
Editor information
Editors and Affiliations
Copyright information
© 2010 International Economic Association
About this chapter
Cite this chapter
Hamilton, K. (2010). Wealth, Saving and Sustainability. In: Heal, G. (eds) Is Economic Growth Sustainable?. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230274280_4
Download citation
DOI: https://doi.org/10.1057/9780230274280_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-31277-1
Online ISBN: 978-0-230-27428-0
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)