Sustainable development has long been a goal of Canadian governments. However, due to over reliance on traditional indicators such as GDP (gross domestic product), little progress has been made towards its achievement. Professor Tsigaris and his former student Condon computed genuine wealth growth rates for Canada and each of its provinces and territories for the period 1997-2009. The growth rate takes into account net investment, including human capital, less the rate of resource depletion and environmental degradation, and adjusts for population growth and technological change. Their empirical evidence shows that the growth rate of per capita genuine wealth is negative for Saskatchewan and Alberta, implying that neither province is achieving sustainable development. For Canada’s policymakers, this should be particularly useful as it illustrates each region’s standing in the various components of genuine wealth, thereby providing information on possible avenues to increase sustainability. Their research has been recently accepted for publication in the International Journal of Sustainability: Policy and Practice.
Researchers compute genuine wealth growth rates for Canadian provinces
September 27, 2013
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