[Ok-sus] Vermont Genuine Progress Indicator
juliegahn at yahoo.com
Thu May 3 16:23:16 CDT 2012
"What you measure is what you get,” said Nobel prize-winning economist Joseph
Stiglitz. Soon Vermont may measure its economic well-being somewhat differently.
This week, the Vermont legislature sent a bill to Gov. Peter Shumlin that
charges the University of Vermont’s Gund Institute for Ecological Economics with
developing a new way of measuring the health of the state economy: it’s called
the Vermont Genuine Progress Indicator.
The law would be the first of its kind in the U.S. and builds on a growing
network of state GPI initiatives, most notablyMaryland's.
Since World War II, policy-makers and their economic advisers worldwide have
measured economic progress by the Gross Domestic Product, or GDP, which tracks
the volume of commercial transactions: the purchase and sale of stuff.
“And that’s what we’ve gotten — more stuff,” says Jon Erickson, professor and
managing director of UVM’s Gund Institute. “But is having more stuff the only
purpose of the economy? Is it even the main purpose?”
Erickson doesn’t think it is — or should be —
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