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Economic indicator
Part of a series on
Ecological economics
Humanity's economic system viewed as a subsystem of the global environment
Concepts
Carbon fee and dividend
Carrying capacity
Ecological market failure
Ecological model of competition
Ecosystem services
Embodied energy
Energy accounting
Entropy pessimism
Index of Sustainable Economic Welfare
Natural capital
Spaceship Earth
Steady-state economy
Sustainability, 'weak' vs 'strong'
Uneconomic growth
People
Serhiy Podolynsky
Frederick Soddy
Nicholas Georgescu-Roegen
Kenneth E. Boulding
E. F. Schumacher
Robert Ayres
Herman Daly
Joan Martinez Alier
Richard B. Norgaard
Robert Costanza
Tim Jackson
Clive Spash
Organizations:
International Society for Ecological Economics
Works
Wealth, Virtual Wealth and Debt
The Entropy Law and the Economic Process
The Limits to Growth
Small Is Beautiful
Prosperity Without Growth
Ecological Economics (journal)
Related topics
Degrowth
Eco-investing
Eco-socialism
Environmental economics
Externality
Green politics
Planetary boundaries
Post-growth
Sustainable finance
Thermodynamics
Thermoeconomics
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The Index of Sustainable Economic Welfare (ISEW) is an economic indicator intended to replace the gross domestic product (GDP), which is the main macroeconomic indicator of System of National Accounts (SNA).
Rather than simply adding together all expenditures like the GDP, consumer spending is balanced by such factors as income distribution and cost associated with pollution and other unsustainable costs. The calculation excludes defence expenditures and considers a wider range of harmful effects of economic growth.[1] It is similar to the genuine progress indicator (GPI).
The Index of Sustainable Economic Welfare (ISEW) is roughly defined by the following formula:
ISEW = personal consumption + public non-defensive expenditures - private defensive expenditures + capital formation + services from domestic labour - costs of environmental degradation - depreciation of natural capital
^"GDP -- does size matter more than essence?". The Financial Express. Retrieved 28 August 2022.
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