Some of the indicators that are unaccounted for, or not accounted for as costs, in the GDP, but are included in either ISEW
or GPI as 'defensive expenditures' are private expenditures on health and education; costs of commuting, urbanization and auto accidents; costs of different types of pollution, depletion of non-renewable resources and long term environmental damage; the value of volunteer work; and the costs of crime, family breakdown, underemployment, etc.
Indexed values (base year 1990 = 100) for GDP, GPI (or ISEW in some cases), HDI, Ecological Footprint, and Biocapacity were calculated for the 17 countries, while the Gini coefficients and Life Satisfaction for some of them (Fig.
4 shows trends in GPI/capita for all 17 countries for which GPI or ISEW has been estimated, along with trends in GDP/capita, Ecological Footprint, Biocapacity, HDI, and the Gini coefficient.
The recession in ISEW in the 1980s was primarily due to a decrease in net capital growth, while the one in the 2000s is primarily due a decrease in Belgium's net international investment position (Bleys, 2008).
Chile's ISEW runs almost parallel to GDP until around 1985.
Theoretical foundations of sustainable economic welfare indicators- ISEW and political economy of the disembedded system.
O sistema ISEW
fornece uma nova visao da mudanca do bem-estar economico no tempo.
org> at 20 May 2009; and Philip Lawn, 'A Theoretical Foundation to Support the ISEW
, GPI, and other related indexes' (2003) Ecological Economics (August) 959-983.
GDP is certainly not an adequate estimate of the level of sustainable economic welfare but this also applies to the ISEW adjustments to the national accounts, as critics have been quick to point out.
This also implies that a particularly important omission from ISEW is the improvement over time in life expectancy.
This paper provides a revision of the ISEW estimates for the UK undertaken with a view to making them more nearly approximate a utility-based real national income measure.
In this section of the paper the definition of ISEW is reviewed and criticisms are presented of the implementation of the concept.