The true value of construction and the built environment to the economy
In the first paper, De Valence deals with the issue of the scope of the construction industry and promotes the view that a framework for analysis of the construction industry should incorporate the totality of activities involved in the production of the wider built environment. He argues for the need to undertake research based on the boundaries of the built environment system which incorporates greater social and environmental challenges.
Ilhan and Yobas concentrate on the social and environmental value of construction activity and not just the economic value. They discuss the shortcomings of GDP measures and promote the development and use of National Wealth accounts to provide a better way of assessing the value of the built environment. They emphasise the importance of developing a system for measuring natural, man-made and human and social capital. In the context of a strategy for evaluating the construction industry and sustainable development, they discuss measurement problems and suggest indicators.
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