A central issue in the study of sustainable development is the interplay of growth and sacrifice in a dynamic economy. This paper investigates the relationship among current consumption, sacrifice, and sustainability improvement in a general context and in two canonical, stylized economies. We...

Proposed alternatives to GDP as a measure of social welfare or human progress are briefly evaluated. Four main categories are considered, namely ISEW and GPI based on corrections of GDP, sustainable or green(ed) GDP, genuine savings/investments and composite indexes. All these alternatives turn...