The International Human Dimensions Programme on Global Environmental Change (IHDP)* announced at the Rio+20 Summit on June 17, 2012. the launch of the Inclusive Wealth Report 2012...
Limitations of marketsLast Updated on 2013-11-18 08:49:39
There are a number of ways in which economic theory affects both the study and the practice of business. Economic theories may be offered to explain how businesses operate; students and teachers of business generally ignore some of the less realistic portions of these explanations, while making use of the more practical aspects. Economic theories are also used as justification for government policies that regulate or otherwise affect business.
There is an especially relevant part of economic theory that describes how socially optimal results can come about through perfect markets that allocate resources according to society’s most preferred uses. This theory is important because it is the theoretic underpinning for policies and prescriptions that have significantly shaped the modern world. Recommendations to reduce trade restrictions; to privatize utilities, prisons, or water... More »
Inclusive Wealth Report 2012Last Updated on 2013-10-29 21:21:58The International Human Dimensions Programme on Global Environmental Change (IHDP)* announced at the Rio+20 Summit on June 17, 2012. the launch of the Inclusive Wealth Report 2012 (IWR 2012). The report measures the wealth of nations.
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The report presents a new economic index, which looks beyond the traditional short term economic and development yardsticks of gross domestic product (GDP) and the Human Development Index (HDI). The Inclusive Wealth Index (IWI) assesses changes in a country’s productive base, including produced, human, and natural capital over time. By taking a more holistic approach, the IWI shows governments the true state of their nation’s wealth and the sustainability of its growth.
Twenty countries were assessed in the IWR 2012 over a period of 19 years (1990-2008). Together they represent more than half of... More »
Complex SystemsLast Updated on 2013-10-24 15:13:11
As Science has begun to ask where the enduring features of nature come from and how they work, the answer seems to be “complex systems”. Every kind of thing and event seems to require them. As the science has advanced, and as the modern problems of economies and environmental conflicts emerge, a new kind of science is emerging that requires being very openly exploratory, using all the tools and combining all the related perspectives of others, to develop complex knowledge systems matching the variety of the complex system problems they respond to.
Systems are storms or “like storms” in many respects, complex distributed phenomena that may be either unexpectedly eventful or highly predictable. There’s still a rather wide range of opinion within science as to what complex systems are, even whether they are made of information or... More »
Ecological footprintLast Updated on 2013-10-22 19:06:50
Ecological Footprint is defined as a resource accounting framework for measuring human demand on the biosphere.
The human economy is embedded in the biosphere and is entirely dependent on its ecological services. In consuming nature’s products and services, people have an impact on the Earth. But since nature has the ability to renew, it can cope with human demand as long as this demand stays within the regenerative capacity of the biosphere.
Ecological Footprint accounting documents the extent to which human economies stay within the regenerative capacity of the planet, and who uses which portion of this capacity. They answer the research question of how much of the regenerative capacity of the biosphere is occupied by a given human activity.
Such biophysical resource accounting is possible because resources and waste flows can be tracked, and most of these flows can be... More »
Social capitalLast Updated on 2013-10-15 00:38:44
It is common to think that social capital is everything related to any kind of human interaction, but actually that is the work of sociology. If we look for a definition of sociology, we can find that it is the “science of society, social institutions, and social relationships, and specifically the systematic study of the development, structure, interaction, and collective behavior of organized human groups”. If we look for a definition of social capital there is not one yet in the encyclopedia, but sociology and social capital are not the same thing.
According to Alejandro Portes, Professor of Sociology at Princeton University, “the concept of social capital has become one of the most popular exports from sociological theory into everyday language … but despite its current popularity, the term does not embody any idea really new to... More »
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