How to handle natural capital within the context of the green economy?
Abstract
Natural capital is one of the most controversial measures in current models of economic development. Sustainability challenges of our time are related with measuring Nature as economic value. How to measure the inputs that do not have a clear market price? How to measure ecosystems and noncultivable land? How to introduce these elements in our National Accounts? In this chapter, the main elements of the theory behind natural capital are reviewed, and the available measures are presented and criticized. The chapter concludes with some suggestions to adequate wealth measures with the inclusion of natural capital as economic input.
Keywords
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