Stephen Posner argues for a Genuine Progress Indicator. What do you think?
The Genuine Progress Indicator (GPI) builds from current economic indicators and essentially modifies GDP to include environmental, social costs and benefits.
In a number of studies at multiple scales, the GPI has proven useful as
- a measure of economic activity that also reflects natural capital and social capital;
- a policy lens that can evaluate contributions to human well-being;
- and a catalyst for sparking debate about social progress and greener economic development.
The state of Maryland in the U.S. has developed an approach to measuring sustainable well-being that goes beyond gross state product. http://www.green.maryland.gov/mdgpi/. According to their website:
“Maryland developed its Genuine Progress Indicator to measure how development activities impact long-term prosperity, both positively and negatively.”
In the video below, Sean McGuire of the Maryland Department of Natural Resources demonstrates Maryland’s Genuine Progress Indicator, a new, innovative tool that will help build Maryland’s sustainable future.