Nature's Numbers Expanding the National Economic Accounts to Include the Environment (1999) / Chapter Skim
Currently Skimming:
Executive Summary
Executive Summary
Pages 1-10
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 1... ...
Most recently, attention has focused on extending the accounts to include natural resources and the environment. The guiding principle in extended national accounts is to measure as much economic activity as is feasible, whether that activity takes place inside or outside the boundaries of the marketplace.
|
From page 2... ...
INTEGRATED ENVIRONMENTAL AND ECONOMIC ACCOUNTING AND ITS BENEFITS TO THE NATION BEA developed the IEESA because of the growing importance of environmental accounting both in the United States and abroad. Better natural-resource and environmental accounts have many benefits.
|
From page 3... ...
BEA's proposal for developing the IEESA envisions use of the phased approach, adding satellite accounts for natural-resource and environmental assets in three phases starting with subsoil mineral assets, expanding to renewable and other natural resources such as timber in forests, and only then addressing nonmarket environmental assets such as clean air and water. Under the comprehensive approach, a broad set of nonmarket accounts would be developed in parallel with the near-market accounts.
|
From page 4... ...
The United States has in place today only the barest outline of a set of natural-resource and environmental accounts, with numerical estimates limited to subsoil mineral assets. This lag has occurred even as the importance of the environment has become increasingly obvious.
|
From page 5... ...
A good system of accounts could address the widespread concern that the United States is depleting its mineral wealth and shortchanging future generations. By properly monitoring trends in resource values, volumes, and unit prices, the national economic accounts can identify the condition of important natural resources, not only at the national level, but also at the regional and state levels.
|
From page 6... ...
To the extent that the United States depends heavily on imports of fuels and minerals from other countries, it would benefit from better mineral accounts abroad because the reliability and cost of imports can be more accurately forecast when data from other countries are accurate and well designed. The panel recommends that BEA develop and maintain a set of accounts for domestic subsoil mineral assets.
|
From page 7... ...
The data on many environmental variables are currently poorly designed for the construction of environmental accounts. The panel recommends a concerted federal effort to identify and collect the data needed to measure changes in the quantity and quality of natural-resource and environmental assets and
|
From page 8... ...
Although the cost of a comprehensive accounting system will depend on the extent to which BEA is able to draw on data and expertise from other agencies, a preliminary estimate is that a full set of accounts would require incremental outlays for BEA and other agencies of about $10 million per year for a decade or more. SUMMARY In weighing future directions for environmental and augmented accounting in the United States, the panel concludes that developing a comprehensive set of nonmarket accounts is the most promising approach.
|
From page 9... ...
It would be even more valuable to develop a comprehensive set of environmental and nonmarket accounts. The panel emphasizes, however, that environmental accounts must not come at the expense of maintaining and improving the current core national accounts, which are a precious national asset.
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.