The UN System of National Accounts (SNA) calculates standard national income (NI) under the condition that owned capital is maintained. Roefie Hueting defined in 1969 environmental functions (state, stock) as the possible uses by humans of the environment. Their actual use (flow) nowadays are...

Should we remain neutral between our interests and those of future generations? Or are we ethically permitted or even required to depart from neutrality and engage in some measure of intergenerational discounting? This Article addresses the problem of intergenerational discounting by drawing on...

This paper examines implications of limits to substitution for estimating substitutability between ecosystem services and manufactured goods and for social discounting. Based on a model that accounts for a subsistence requirement in the consumption of ecosystem services, we provide empirical...

Following the severe financial crisis of 2012/2013 and the subsequent contraction of the Cyprus economy, the authors consider the policies and institutional changes required to regenerate economic growth. It is argued that the crisis emanated largely from the wasteful use of investable funds...

The paper shows how limited substitutability in consumption between different classes of goods affects the magnitude and time development of social discount rates. It decomposes the discount rates into an absolute growth and a relative growth or substitutability effect. The paper relates...

While the global economy continues to grow, ecosystem services tend to stagnate or decline. Economic theory has shown how such shifts in relative scarcities can be reflected in project appraisal and environmental-economic accounting, but empirical evidence has been sparse to put theory into...

The unprecedented deterioration of our global environment has increased the necessity of relying upon Green Economic policies as critical and effective environmental management tools. The current situation has stimulated extensive research and debate among global interest groups. This has...

The state of implementation of the Sustainable Development Goals (SDGs) in the European Union (EU) in the context of the EU framework governing business and human rights (B&HR) is worthy of consideration. This chapter follows the top-down approach: it explores the relevant EU legal and policy...

We live in peculiar times: on the one hand, many people — mainly in Western countries — enjoy an unprecedentedly high standard of living from a historical perspective. On the other hand, a considerable part of the population has a feeling that something went wrong, which is underscored by...

The ongoing economic instability in several countries and regions throughout the world, along with the volatility of the market and job losses, has lead to an increase in protests that are currently reaching the highest possible levels of conflict against the so-called establishment....