Macroeconomics and the environment : essays on green accounting Though scientists and environmentalists have long expressed concern over the rapid deterioration of the global environment economists have largely failed to recognize the issues relevance to their field. Salah El Serafy argues for an increased focus on the economic aspects of environmental degradation calling for a fundamental shift in how economists measure and discuss national income pt. 1. Introduction pt. 2. Concepts of income and capital pt. 3. The user cost and its detractors pt. 4. Methodological tools pt. 5. Policy matters pt. 6. Conclusion.