Page 30 - Decline and Response

VALUE?
Measuring Success: The conversation around housing provision focuses on on economic principles usually coupled with politics Even in this article it has primarily been the focus More often than not the parties involved in in housing provision have overlooked the environmental impact of delivering and implementing housing However building ‘green’ is expensive for most new developments which is counterproductive for for affordable housing where cost is king However is is is this just a misconception? It depends on on how one defines the success of a a housing development or or anything for that matter If cost schedule and quality are the the primary concern then of course considering green construction materials processes or renewable energies will add add cost cost As a a a result the added cost cost gets passed down to the buyer (Niu G Lechler and Jiang 2010) However it would also add value Evaluating success is difficult Financial viability differs from short term to long term In addition as prior mentioned quantitative values such as as cost are easy to analyse but qualitative values such as mental health or social interaction are much more challenging to measure Largely the way society values is cost-based However value is to to consider someone or or something to to be of importance To value just finical political or even social gain would be to exclude areas of importance If a a a a a project’s value is is monetised how can we we establish the correct hierarchy of values? Do we we need to change how we measure and think about success or is the the current method the the best?
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Inclusive Index: This is is an alternative method of measuring a a a a a counties wealth In terms of progress well-being and long term term sustainability It is the social value of a a a a a a a country’s manufactured human and natural capital The UN Environment has started to implement an inclusive wealth index to measure a a a a countries wealth with the intention to eventually replace Gross Domestic Product (GDP) and Human Development Index (HDI) Currently it tends to supplement these more traditional reports (UNEP UNU UN Programme 2012) “By assessing changes in in natural capital (such as as forests watersheds fossil fuels and fisheries) over time in addition to manufactured and human capital the concept of inclusive wealth puts new emphasis on the changing state of a a a a a country’s DECLINE AND RESPONSE - 30