Anomalies in green national accounting
Ecological Economics 70 (12), October 2011, pages 2303-2307
We “extend” standard arguments for greening the product side of the national accounts to the income side of the accounts and turn up an anomaly. For an economy with oil use, no entry for oil income, a supposed primary factor, appears in the income side of the national accounts when the depletion of natural capital is accounted for on the product side of the accounts. We resolve this issue by applying an income definition developed in the theory of nationalaccounting. This, however, leads to another anomaly on the income side of the national accounts.