The debate on the valuation of nature and the environment, sustainable national income and economic growth is one of prime importance in environmental economics. Economic Growth and Valuation of the Environment deals with the fundamental approaches to calculating sustainable national income and their implications for the valuation of the environment. Leading economists present their views on how the UN system of national accounts could be adjusted to include environmental impacts and the depletion of natural resources. The discussion centres on the appropriateness of national income as an indicator for welfare, and specific attention is paid to the question of how to value changes in environmental quality or emissions of pollutants.Centred around the topics raised by the seminal publications of Roefie Hueting, this book will be of great interest to environmental economists and students focusing on environmental and natural resource economics. Environmental policymakers will welcome the lively and up-to-date discussion of a range of policy issues.