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Ecological Economics 69 (2010) 810–819
Contents lists available at ScienceDirect
Ecological Economics
journal homepage: www.el /l ocate/e col econ
Methods
Measuring sustainable welfare: A new approach to the ISEW
Pedro Beça ⁎, Rui Santos
CENSE-Center for Environmental and Sustainability Research, Department of Environmental Sciences and Engineering, Faculdade de Ciências e Tecnologia, Universidade Nova de Lisboa,
2829-516 Caparica, Portugal
a r t i c l e i n f o a b s t r a c t
Article history: Sustainability and welfare assessment is a contemporary theme of major scientific and policy relevance,
Received 28 May 2009 requiring the consideration of multiple dimensions and diverse perspectives. The economic approach to
Received in revised form 15 November 2009 sustainability and welfare assessment has frequently relied on alternatives, or adjustments, to GDP, widely
Accepted 30 November 2009
used as an indicator of macroeconomic performance.
Available online 12 January 2010
Several authors have proposed alternative indicators, such as the ISEW, which intend to measure
sustainability and economic welfare in a way that avoids the limitations of GDP; namely accounting for
Keywords:
Sustainability the value of externalities, the distribution of income and natural resources depletion. Since Daly and Cobb
Welfare
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