William D. Nordhaus for PS On Point: Green National Accounting

William D. Nordhaus explains how to capture the economic effects of negative environmental externalities. [View this message in a web browser]( [PS On Point]( SEPTEMBER 3, 2021 Imperfect economic metrics like GDP have stuck around precisely because they are more manageable than most of the alternatives. But in an age of climate change and biodiversity loss, accounting properly for environmental externalities has become an increasingly urgent – and fruitful – exercise, writes Nobel laureate economist William D. Nordhaus. [Read more](. On Point [Green National Accounting by William D. Nordhaus]( [Green National Accounting]( By William D. Nordhaus 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. [Read more]( [PS Events: Building the Green Consensus]( The Big Picture [AI Wars]( [AI Wars]( Featuring Eric Schmidt, Kai-Fu Lee, Aida Ponce Del Castillo, and more While recent advances in artificial intelligence may not justify either excessive optimism or dystopian visions, the technology will significantly reshape economies and societies. But will geopolitical competition and a surfeit of hype hamper progress toward setting standards for this critical technology’s responsible development and use? [Read more]( Opinion Has It [The End of the Indispensable Nation]( [The End of the Indispensable Nation]( with [Stephen Wertheim]( a senior fellow in the American Statecraft Program at the Carnegie Endowment for International Peace Twenty years ago, the September 11 terrorist attacks invigorated America’s sense of itself as the “indispensable nation.” But its actions since then have failed to improve global security and have endangered those who it claimed to be helping. [Listen now]( Opinion Has It is also available on [Acast]( [Apple]( [Google]( and [Spotify](. Previously in On Point [The Evolution of American Capitalism]( [The Evolution of American Capitalism]( By William H. Janeway Although the American economic system has undergone significant change since colonial times, there are identifiable threads running through the centuries-long narrative. Chief among these are the themes of "liquidity" and state action – both of which can either be a blessing or a curse. [Read more]( [Special-Edition Magazine: Back to Health]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.