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Is Growth Good? Gary Flomenhoft VT Law School June 10, 2005

Is Growth Good? Gary Flomenhoft VT Law School June 10, 2005. Human Welfare Index and GDP. UN Human Development Index and GDP. Life Satisfaction and Happiness vs. GDP. Put amount needed to be happy here. GPI Factors. I. Crime & Family Breakdown

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Is Growth Good? Gary Flomenhoft VT Law School June 10, 2005

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  1. Is Growth Good? Gary Flomenhoft VT Law School June 10, 2005

  2. Human Welfare Index and GDP

  3. UN Human Development Index and GDP

  4. Life Satisfaction and Happiness vs. GDP

  5. Put amount needed to be happy here.

  6. GPI Factors I. Crime & Family Breakdown (legal fees, medical expenses, damage to property, crime and divorce.) II. Household & Volunteer Work III. Income Distribution IV. Resource Depletion (Wetlands, farmland, and nonrenewable minerals (including oil) ) V. Pollution VI. Long-Term Environmental Damage VII. Changes in Leisure Time VIII. Defensive Expenditures (Medical and repair bills from automobile accidents, commuting costs, and household expenditures on pollution control devices such as water filters.) IX. Lifespan of Consumer Durables & Public Infrastructure X. Dependence on Foreign Assets

  7. GPI by Column

  8. “When to Stop” Rule

  9. Total Utility and Marginal Utility of Growth Total utility Marginal utility

  10. Full World or Empty World? Source: Ecological Economics Principles & Applications, Farley and Daly

  11. ESA Listings and GDP $10 $9 $8 $7 $6 $5 $4 $3 R2 = 98.4 1973 1980 1990 2001 Source: The Wildlife Society Technical Review 2003-1.

  12. If World consumption = US: Need 4 more planets Source: Center for A New American Dream

  13. Grow out of poverty?

  14. Real Wages and productivity 1948-2002

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