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The Relationship Between Environmentally Sustainable Income, Employment and Wages in Australia
Author(s) -
Mallick Seeme,
Sinden J. A.,
Thampapillai D. J.
Publication year - 2000
Publication title -
australian economic papers
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.351
H-Index - 15
eISSN - 1467-8454
pISSN - 0004-900X
DOI - 10.1111/1467-8454.00088
Subject(s) - wage , sustainability , labour economics , economics , asset (computer security) , basic income , sustainable development , measures of national income and output , business , macroeconomics , market economy , ecology , computer security , computer science , biology , political science , law
The environment is an asset that provides essential services. Like any other asset, its services will diminish as it depreciates. The environmentally sustainable income of a nation depends on a sustained flow of these services, and can be estimated by including the environment in a macroeconomic framework, with a goal to achieve both full employment and sustainability. The relationship of national income to employment is estimated at full employment, actual employment and the employment level that is necessary to maintain sustainable income, for the Australian economy. There proved to be a widening gap between actual income and environmentally sustainable income, and between actual income and income to guarentee full employment. Wage reduction and improvement of technology are analysed as possible ways to meet the goal of an environmentally sustainable income.