Gross ecosystem product in macroeconomic modelling
The benefits provided by ecosystem services, such as crop pollination and water purification, are of great importance to any economy, both directly and indirectly. Therefore, nature-inclusive decision-making requires that such benefits are taken into account in the economic decision-making process. However, in most assessments, the Gross Domestic Product (GDP), which shows the total value of output/income generated in a country, is used as the main economic development indicator, not capturing fully the contributions of nature to economic activity and human well-being. The concept of Gross...