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Australia: a land of missed opportunities?

Published online by Cambridge University Press:  02 May 2017

David Greasley
Affiliation:
School of History, Classics and Archaeology, Edinburgh University, Edinburgh EH8 9JY, Scotland, UK. E-mail: david.greasley2@btinternet.com
Eoin McLaughlin
Affiliation:
School of Geography & Sustainable Development, University of St Andrews, Scotland, UK. E-mail: eoin.mclaughlin@st-andrews.ac.uk
Nick Hanley
Affiliation:
School of Geography & Sustainable Development, University of St Andrews, Scotland, UK. E-mail: ndh3@st-andrews.ac.uk
Les Oxley
Affiliation:
Waikato Management School, University of Waikato, New Zealand. E-mail: loxley@gmail.com

Abstract

Comprehensive Investment (CI) may provide an indicator of future changes in a country's per capita consumption. The authors explore the utility of the CI indicator for Australia by constructing CI data since 1861 and by estimating their relationship with changes in future consumption over periods of 50 years ahead. The CI measures include changes in natural, produced and human capital, and make allowance for exogenous technological progress. The results are used to consider how Australia's natural capital exploitation influenced the consumption of future generations. Further, the authors gauge if low CI relative to other leading OECD countries resulted in lower consumption levels in Australia over time than feasible, had it saved more.

Type
Research Article
Copyright
Copyright © Cambridge University Press 2017 

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