Is Growth Good

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Is Growth Good? Gary Flomenhoft VT Law
School June 11, 2004
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Human Welfare Index and GDP
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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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GPI Factors
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 (Medica
l 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
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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
10 9 8 7 6 5 4 3
R2 98.4
1973 1980 1990 2001
Source The Wildlife Society Technical Review
2003-1.
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If World consumption US Need 4 more planets
Source Center for A New American Dream
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Grow out of poverty?
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Real Wages and productivity 1948-2002
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