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“ENVIRONMENT”, “NEEDS” AND REAL INCOME COMPARISONS (1)
Author(s) -
Beckerman W.
Publication year - 1972
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.1972.tb00960.x
Subject(s) - economics , measures of national income and output , welfare , product (mathematics) , national income and product accounts , object (grammar) , national accounts , econometrics , public economics , natural resource economics , macroeconomics , computer science , mathematics , market economy , geometry , artificial intelligence
Conventional measures of national product make no pretence of including everything that affects welfare. As increasing attention is being paid to environmental pollution, the problem of incorporating certain non‐economic variables into the analysis of well‐being becomes more relevant. The object of this note is to show how a difference in “needs” for, and hence expenditures on, anti‐pollutants, which will show up in conventional national accounts comparisons as differences in “tastes”, should be converted into differences in real income.