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Green National Accounting
Standard economic accounting methods have long suffered from a failure to capture the full effects of non-market externalities like greenhouse-gas emissions and pollution. But once these factors are weighed in the balance, it becomes clear that US environmental and safety regulations are actually pro-growth.
NEW HAVEN – Once, on a flight out of Albuquerque, I was reading a glossy magazine article criticizing gross national product when I encountered the following quote from a “young radical”: “Don’t tell me about your GNP. To me, it’s really Gross National Pollution.”