Alternative indicators for development : a case study of Atlantic Canada

Abstract

Existing data for Economic, Social and Environmental indicators are analysed. Costs for these indicators are defined and discussed. Cost estimates are provided for all three sets of indicators. This framework is used to compare present costing and future costs that would occur if the current trends continue to exist. The implications of present cost distribution on economic, social and environmental efficiency, equity and development considerations are explored. Recommendations are provided for reforming current decision making. The integrating theme of the new methods of accounting is the view of "Sustainability;" in contrast to the short-term changes in quantitative growth tracked by the GDP, sustainable development acknowledges the dependence of the human economic subsystem on an encompassing ecosystem and our responsibility to future generations. Economic activity is valued according to long-term qualitative non-market transactions, social equity and environmental considerations. Surveys by Statistics Canada is the primary source of data used for most of the indicators.

Knowledge of environmental, social and economic costs can help many policy and planning decisions. How costs are valued affects not only the economic efficiency and competitiveness but also the equity and the sustainable approach to exploiting the environment in the process of development. Some non-market social, economic and environmental services to the economy as well as to human progress tends to be given little weight or no weight in some policy planning areas and in the present system of national accounts. In recent years techniques have been developed to measure a wide variety of non-market costs. Some of these methods are discussed and used in this study to allow how costs could be compared and to measure human progress.