What Money Cannot Buy: Disillusionment of the Apparent Link Between Environment and Narrow Economic Prosperity

Authors

  • Hirakjyoti Basak M.Sc. (Economics), London School of Economics and Political Science (LSE), London
  • Subhasree Basak Research Scholar, University of Calcutta, Kolkata

DOI:

https://doi.org/10.33516/maj.v56i6.59-62p

Keywords:

No Keywords.

Abstract

This paper briefly outlines the need for natural resource accounting (NRA) which will enable us to integrate the information on interactions between environment and economy. Role of NRA to monitor and help achieve the sustainable development goals as part of Agenda 2030 from the perspective of Indian economy is explored next. But, does economic prosperity necessarily ensure sustainable development? This is a pertinent question delved into using Spearman’s Rank Correlation, which yielded the finding that although there is a positive relation between GDP and sustainability, however, focusing merely on economic prosperity will not suffice. Special attention is imperative to achieve the goals set out for Agenda 2030, both on the regional as well as the national level.

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Published

2021-06-30

How to Cite

Basak, H., & Basak, S. (2021). What Money Cannot Buy: Disillusionment of the Apparent Link Between Environment and Narrow Economic Prosperity. The Management Accountant Journal, 56(6), 59–62. https://doi.org/10.33516/maj.v56i6.59-62p

Issue

Section

Cover Story

References

GASAB (2020): Concept Paper on Natural Resource Accounting in India. New Delhi, India.

Kneese, A.V., Ayres, R.U. and D’Arge, R.C. (1970): Economics and the environment-A Materials Balance Approach: Resources for the Future, Washington, D.C.

NITI Aayog (2018): SDG India Index Baseline Report, 2018. New Delhi, India.

NITI Aayog (2019): SDG India Index and Dashboard 2019-20. New Delhi, India.

Nordhaus, W.D. and Tobin, J. (1973): Is growth obsolete? In Moss, M. (Ed.), The measurement of economic and social performance, Studies in Income and Wealth No. 38, National Bureau of Economic Research, New York. pp. 509-564

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