Advocates of the Genuine Progress Index argue that traditional measures of our economic health, mainly the Gross Domestic Product (GDP), mislead us by mixing up good spending (on the likes of lobster, turnips, and bicycles) with bad (on oil spills, crime, and car crashes), and because it fails to account for depletion of natural resources. Those critiques, while valid and important, don't completely obviate the relevance of GDP. A new chart from Gapminder (previously mentioned in one of my all-time favorite Contrarian posts), shows that higher GDP per person equals longer life: The trend is unmistakable, and at first glance, the...

04 June, 2010

Atlantic Magazine writer James Fallows, drawing on this New York Times op-ed piece, bemoaned the lack of headway in replacing the GDP (gross domestic product) with a GPI (genuine progress indicator) in the years since the Atlantic published this seminal 1995 cover story on the concept. In fact, that Atlantic cover story helped inspire Nova Scotia's Ron Colman to found GPI Atlantic, which has done important work developing measures of real progress in this region. Colman wrote Fallows to point this out, and today Fallows blogs about GPI Atlantic.  [Disclosure: contrarian once worked for GPI Atlantic.]...

12 August, 2009