Forging a Path to Sustainable Development
Edited by Philip Lawn
Chapter 6: Economic transition in Australia: time to move towards a steady-state economy
This chapter focuses on the economic transition of Australia over the last half century. It does this by presenting the results of a Genuine Progress Indicator (GPI) study of Australia for the period 1962–2010. The chapter begins with a description of the current economic, social, and environmental features of Australia as well as a brief overview of its historical economic developments. This puts into context the state of Australia’s genuine progress at the beginning of the study period and the probable factors affecting the direction and rate of its progress thereafter. A brief explanation of the GPI is then given, which includes a summary of the benefit and cost items used in its calculation and the valuation methods employed to estimate each of the items. Having done this, the GPI results of Australia are revealed and examined. The chapter concludes with identification of the major items impacting on Australia’s GPI; what this implies in terms of the recent transition of the Australian economy; and what Australia should do to advance its genuine progress.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.