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Characteristics of sustainable consumption from an economic perspective
Published in Magdalena Wojnarowska, Marek Ćwiklicki, Carlo Ingrao, Sustainable Products in the Circular Economy, 2022
Jakub Głowacki, Piotr Kopyciński, Mateusz Malinowski, Łukasz Mamica
One of the key issues in the process of construction of indexes of the impact of the CE on socio-economic development is the distinction between the concept of economic growth and that of socio-economic development (Balderjahn et al., 2013; Gullstrand Edbring et al., 2016; Pellet, 2018; Ghisellini & Ulgiati, 2019). In economic theory, economic growth is a category which serves the purpose of describing quantitative changes. It is a process that consists of an increase in national wealth over time and relates only to the measurable sphere of the economy. Most frequently, the measure of economic growth is growth in real gross domestic product (GDP). It is the sum of the value of all final goods and services produced in the country over a specified period of time (usually a year). “Indirect” goods and services, used in the process of further production, are not included in GDP (Łapacz, 2015).
Challenging Hegemonic Conceptions of Food Waste
Published in Christian Reynolds, Tammara Soma, Charlotte Spring, Jordon Lazell, Routledge Handbook of Food Waste, 2020
There is a growing movement for de-growth or ‘steady state’ economics as an alternative to endless growth. Hickel (2017) argues that efficiency improvements and clean energy technologies can contribute to reducing emissions by, at most, 4% per year, but to reach 10% overall reductions rich countries will have to downscale production and consumption by about 6% per year. But shrinking of GDP is compatible with increases in happiness, equality and positive economic activity, such as renewable energy infrastructure (Jackson, 2016). GDP is the ultimate measure of exchange value – but arguably use value is more important. GDP does not factor in how equitably money is distributed, or whether monetary value has negative societal impacts (e.g. crime or war), and disregards non-monetised labour such as volunteering or care, or non-monetised environmental benefits such as a safe climate. Alternatives to GDP such as the Genuine Progress Indicator could be used by governments to measure economic activity of genuine positive value to society (Kubiszewski et al., 2013).7
Sustainable Development: How to Avoid Collapse and Build a Better Society
Published in John C. Ayers, Sustainability, 2017
The goal of society is to improve human well-being, and in developing countries increasing GDP and material consumption is a means to that end. However, rising income shows diminishing returns on well-being and happiness, with the latter actually showing a stronger dependence on health and marital status (Easterlin 2003). Related to this, as a measure only of economic capital, the GDP does not account for the many positive contributors to well-being such as environmental and social capital. Better measures of the contributions of economic activity to promoting human well-being, ones that are consistent with strong sustainability, are necessary. One proposed measure is the Genuine Progress Indicator (GPI), which starts with GDP, deducts the environmental and social costs incurred by economic activity, and adds the benefits of nonmarket work such as housework and volunteer work. Costanza et al. (2013) distinguish between three current economic models and their objectives:
Covariance Logarithmic Aggregation Operators in Decision-Making Processes
Published in Cybernetics and Systems, 2023
Miriam Edith Pérez-Romero, Víctor G. Alfaro-García, José M. Merigó, Martha Beatriz Flores-Romero
The gross domestic product (GDP) is a metric used to assess a country’s or state’s economic growth; it is defined as the market value of all final products and services generated in a country over a given time span (Parkin 2004; Gregory 2002). GDP has also been used to assess the productivity of specific economic sectors, such as tourism, where it is defined as the total value of goods and services directly purchased by visitors to a country (SECTUR 2014). On the other hand, the security of a tourist destination has been considered a key feature of its competitiveness; Crouch and Ritchie (1999), Ritchie and Crouch (2003), Dwyer and Kim (2003) and Jiménez and Aquino (2012) established tourism competitiveness models that included this variable. In this context, the question that arises is: how does the insecurity or security of a destination influence its tourism GDP?
Exploring the relationships between maritime connectivity, international trade and domestic production
Published in Maritime Policy & Management, 2021
Naima Saeed, Kevin Cullinane, Sigbjørn Sødal
To analyse the possible impact of trade on economic growth, the data for the gross domestic product (GDP) per capita of 155 trading partners of 10 countries in our sample has been collected. The GDP is a measure of the total production within a country and changes in its value over time reflects the economic growth of the country. The exports of sample countries which are the imports of their 155 trading partners can positively influence economic growth. For instance, Lawrence and Weinstein (2001) and Mazumdar (2001) argued that imports are the source through which foreign research and development is brought to importing countries. This is because the importation of cutting-edge technologies is normally closely associated, or even physically bundled, with the importation of related intermediate products, usually in the form of other equipment or more common technology, which provides an alternative source for a country’s productivity growth. As a result, as suggested by endogenous growth models, long-run economic growth can be stimulated through the medium of imports (Grossman and Helpman 1991; Baldwin, Braconier, and Forslid 2005; Kim, Lim, and Park 2007; Awokuse 2008; Almeida and Fernandes 2008).
Effect of financial sector development on energy consumption in Africa: Is it threshold specific?
Published in International Journal of Green Energy, 2019
The study includes other standard control variables such as Gross Domestic Product (GDP), inflation, and trade openness. GDP is used to measure economic growth. Inflation is measured as the annual percentage change of the consumer price index (2010 = 100) which reflects changes in the cost to the average consumer of acquiring a basket of goods and services. This was used to denote macroeconomic (in)stability, and openness is measured by the sum of exports and imports of goods and services as a share of GDP. This measure has been used in the literature (see Kim, Lin, and Suen 2010; Menyah, Nazlioglu, and Wolde-Rufael 2014; Zahonogo 2016) to measure countries’ openness to the international markets which is likely to affect energy consumption. Table 1 below presents results on the descriptive statistics of the variables which include: financial development, energy consumption, and other control variables.