IDEAS home Printed from https://ideas.repec.org/p/ctl/louvir/2015001.html
   My bibliography  Save this paper

L’indice de richesse inclusive : l’économie Mainstream au-delà de ses limites, mais en deçà de la soutenabilité ?

Author

Listed:
  • Géraldine THIRY

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

  • Philippe ROMAN

    (Université de Versailles Saint-Quentin-en-Yvelines, Centre International REEDS)

Abstract

L'Indice de richesse inclusive est issu de la théorie économique standard de la soutenabilité, entendue comme préservation d'une somme pondérée de capitaux censés contribuer au bien-être intergénérationnel. Cet indicateur semble voué à occuper une place importante dans la poursuite d'un développement soutenable, notamment dans les pays en développement. Si l'indicateur séduit par son élégance et sa portée, il n'en pose pas moins des problèmes méthodologiques, épistémologiques et politiques majeurs. Nous proposons une analyse critique de l'indicateur et du cadre théorique sur lequel il s'appuie, en mettant l'accent sur l'économicisme qui le caractérise sous les dehors d'une théorie rénovée et débarrassée de ses oripeaux néoclassiques les plus injustifiables. The Inclusive Wealth Index (IWI) is built upon mainstream sustainability economics, where sustainability is defined as a weighted sum of capital assets according to their supposed contribution to intergenerational wellbeing. The IWI will likely play an important role in the pursuit of sustainable development. While the IWI's elegance and scope are attractive features, major methodological, epistemological and political problems remain. We critically assess the indicator and its underlying theoretical framework. We specifically address the economism of a framework that seems relieved of its most unwarranted neoclassical assumptions.

Suggested Citation

  • Géraldine THIRY & Philippe ROMAN, 2015. "L’indice de richesse inclusive : l’économie Mainstream au-delà de ses limites, mais en deçà de la soutenabilité ?," LIDAM Discussion Papers IRES 2015001, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  • Handle: RePEc:ctl:louvir:2015001
    as

    Download full text from publisher

    File URL: http://sites.uclouvain.be/econ/DP/IRES/2015001.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tony Lawson, 2013. "What is this 'school' called neoclassical economics?," Cambridge Journal of Economics, Oxford University Press, vol. 37(5), pages 947-983.
    2. Franck-Dominique Vivien, 2009. "Pour une économie patrimoniale des ressources naturelles et de l'environnement," Mondes en développement, De Boeck Université, vol. 0(1), pages 17-28.
    3. Kenneth J. Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "The genuine savings criterion and the value of population," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(2), pages 217-225, March.
    4. Arrow, Kenneth J. & Dasgupta, Partha & Goulder, Lawrence H. & Mumford, Kevin J. & Oleson, Kirsten, 2012. "Sustainability and the measurement of wealth," Environment and Development Economics, Cambridge University Press, vol. 17(3), pages 317-353, June.
    5. Kenneth Arrow & Partha Dasgupta & Lawrence Goulder & Gretchen Daily & Paul Ehrlich & Geoffrey Heal & Simon Levin & Karl-Göran Mäler & Stephen Schneider & David Starrett & Brian Walker, 2004. "Are We Consuming Too Much?," Journal of Economic Perspectives, American Economic Association, vol. 18(3), pages 147-172, Summer.
    6. Jean Gadrey & Florence Jany-Catrice, 2005. "Les nouveaux indicateurs de richesse," Post-Print halshs-00198357, HAL.
    7. Vatn Arild & Bromley Daniel W., 1994. "Choices without Prices without Apologies," Journal of Environmental Economics and Management, Elsevier, vol. 26(2), pages 129-148, March.
    8. George MacKerron, 2012. "Happiness Economics From 35 000 Feet," Journal of Economic Surveys, Wiley Blackwell, vol. 26(4), pages 705-735, September.
    9. Ali Douai & Andrew Mearman & Ioana Negru, 2012. "Prospects for a heterodox economics of the environment and sustainability," Cambridge Journal of Economics, Oxford University Press, vol. 36(5), pages 1019-1032.
    10. Spash, Clive L., 2012. "New foundations for ecological economics," Ecological Economics, Elsevier, vol. 77(C), pages 36-47.
    11. Géraldine Thiry & Philippe Roman, 2014. "The Inclusive Wealth Index. A Sustainability Indicator, Really?," Working Papers halshs-01011250, HAL.
    12. Kallis, Giorgos & Norgaard, Richard B., 2010. "Coevolutionary ecological economics," Ecological Economics, Elsevier, vol. 69(4), pages 690-699, February.
    13. Ayres, Robert & Voudouris, Vlasios, 2014. "The economic growth enigma: Capital, labour and useful energy?," Energy Policy, Elsevier, vol. 64(C), pages 16-28.
    14. F. A. Lutz, 1961. "The Theory of Capital," International Economic Association Series, Palgrave Macmillan, number 978-1-349-08452-4 edited by D. C. Hague.
    15. Romina Boarini & Marco Mira D'Ercole, 2013. "Going beyond GDP: An OECD Perspective," Fiscal Studies, Institute for Fiscal Studies, vol. 34, pages 289-314, September.
    16. Cairns, Robert D., 2013. "Sustainability or the measurement of wealth?," Environment and Development Economics, Cambridge University Press, vol. 18(5), pages 640-648, October.
    17. repec:reg:rpubli:132 is not listed on IDEAS
    18. Vatn, Arild, 2005. "Rationality, institutions and environmental policy," Ecological Economics, Elsevier, vol. 55(2), pages 203-217, November.
    19. Eric Neumayer, 2012. "Human Development and Sustainability," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 13(4), pages 561-579, November.
    20. Fleurbaey, Marc & Blanchet, Didier, 2013. "Beyond GDP: Measuring Welfare and Assessing Sustainability," OUP Catalogue, Oxford University Press, number 9780199767199, April.
    21. Bromley, Daniel W., 2007. "Environmental regulations and the problem of sustainability: Moving beyond "market failure"," Ecological Economics, Elsevier, vol. 63(4), pages 676-683, September.
    22. Partha Dasgupta & Karl-Göran Mäler, 2003. "The Economics of Non-Convex Ecosystems: Introduction," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 26(4), pages 499-525, December.
    23. Smulders, Sjak, 2012. "An arrow in the Achilles' heel of sustainability and wealth accounting," Environment and Development Economics, Cambridge University Press, vol. 17(3), pages 368-372, June.
    24. Partha Dasgupta, 2009. "The Welfare Economic Theory of Green National Accounts," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(1), pages 3-38, January.
    25. [multiple or corporate authorship]., 2014. "Cities chapter: better growth, better climate: the new climate economy report," LSE Research Online Documents on Economics 60480, London School of Economics and Political Science, LSE Library.
    26. David I. Stern, 1997. "The Capital Theory Approach to Sustainability: A Critical Appraisal," Journal of Economic Issues, Taylor & Francis Journals, vol. 31(1), pages 145-174, March.
    27. Arild Vatn, 2005. "Institutions and the Environment," Books, Edward Elgar Publishing, number 2826.
    28. Alex Y. Lo & Clive L. Spash, 2013. "Deliberative Monetary Valuation: In Search Of A Democratic And Value Plural Approach To Environmental Policy," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 768-789, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Roman, Philippe & Thiry, Géraldine, 2016. "The inclusive wealth index. A critical appraisal," Ecological Economics, Elsevier, vol. 124(C), pages 185-192.
    2. Spash, Clive L., 2013. "The shallow or the deep ecological economics movement?," Ecological Economics, Elsevier, vol. 93(C), pages 351-362.
    3. Rintaro Yamaguchi & Masayuki Sato & Kazuhiro Ueta, 2016. "Measuring Regional Wealth and Assessing Sustainable Development: An Application to a Disaster-Torn Region in Japan," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 129(1), pages 365-389, October.
    4. Gendron, Corinne, 2014. "Beyond environmental and ecological economics: Proposal for an economic sociology of the environment," Ecological Economics, Elsevier, vol. 105(C), pages 240-253.
    5. Koji Tokimatsu & Rintaro Yamaguchi & Masayuki Sato & Rieko Yasuoka & Masahiro Nishio & Kazuhiro Ueta, 2012. "Measuring sustainable development for the future with climate change mitigation; a case study of applying an integrated assessment model under IPCC SRES scenarios," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 14(6), pages 915-938, December.
    6. Buchs, Arnaud & Petit, Olivier & Roman, Philippe, 2020. "Can social ecological economics of water reinforce the “big tent”?," Ecological Economics, Elsevier, vol. 169(C).
    7. Pirgmaier, Elke, 2017. "The Neoclassical Trojan Horse of Steady-State Economics," Ecological Economics, Elsevier, vol. 133(C), pages 52-61.
    8. Ben Groom & Zachary Turk, 2021. "Reflections on the Dasgupta Review on the Economics of Biodiversity," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 79(1), pages 1-23, May.
    9. Koji Tokimatsu & Rintaro Yamaguchi & Masayuki Sato & Rieko Yasuoka & Masahiro Nishio & Kazuhiro Ueta, 2011. "Measuring future dynamics of genuine saving with changes of population and technology: application of an integrated assessment model," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 13(4), pages 703-725, August.
    10. Engelbrecht, Hans-Jürgen, 2016. "Comprehensive versus inclusive wealth accounting and the assessment of sustainable development: An empirical comparison," Ecological Economics, Elsevier, vol. 129(C), pages 12-20.
    11. Edward B. Barbier, 2016. "The Protective Value of Estuarine and Coastal Ecosystem Services in a Wealth Accounting Framework," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(1), pages 37-58, May.
    12. Del Corso, Jean-Pierre & Kephaliacos, Charilaos & Plumecocq, Gaël, 2015. "Legitimizing farmers' new knowledge, learning and practices through communicative action: Application of an agro-environmental policy," Ecological Economics, Elsevier, vol. 117(C), pages 86-96.
    13. Pezzey, John C.V. & Burke, Paul J., 2014. "Towards a more inclusive and precautionary indicator of global sustainability," Ecological Economics, Elsevier, vol. 106(C), pages 141-154.
    14. Norgaard, Richard B., 2010. "Ecosystem services: From eye-opening metaphor to complexity blinder," Ecological Economics, Elsevier, vol. 69(6), pages 1219-1227, April.
    15. Spash, Clive L. & Vatn, Arild, 2006. "Transferring environmental value estimates: Issues and alternatives," Ecological Economics, Elsevier, vol. 60(2), pages 379-388, December.
    16. Vatn, Arild, 2009. "An institutional analysis of methods for environmental appraisal," Ecological Economics, Elsevier, vol. 68(8-9), pages 2207-2215, June.
    17. Jean-David Gerber, Stéphane Nahrath, 2013. "Beitrag zur Entwicklung eines Ressourcenansatzes der Nachhaltigkeit," Diskussionsschriften credresearchpaper03, Universitaet Bern, Departement Volkswirtschaft - CRED.
    18. Roel Plant & Spike Boydell & Jason Prior & Joanne Chong & Aleta Lederwasch, 2017. "From liability to opportunity: An institutional approach towards value-based land remediation," Environment and Planning C, , vol. 35(2), pages 197-220, March.
    19. Arrow, Kenneth J. & Dasgupta, Partha & Goulder, Lawrence H. & Mumford, Kevin J. & Oleson, Kirsten, 2012. "Sustainability and the measurement of wealth," Environment and Development Economics, Cambridge University Press, vol. 17(3), pages 317-353, June.
    20. Kvamsdal, Sturla F. & Sandal, Leif K. & Poudel, Diwakar, 2020. "Ecosystem wealth in the Barents Sea," Ecological Economics, Elsevier, vol. 171(C).

    More about this item

    Keywords

    indicateurs de soutenabilité; indicateur de richesse inclusive; économie écologique; économicisme; nouvelle économie des ressources sustainability indicators; inclusive wealth index; ecological economics; economism; new resource economics;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ctl:louvir:2015001. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/iruclbe.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Virginie LEBLANC (email available below). General contact details of provider: https://edirc.repec.org/data/iruclbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.