That is, the state legislature is looking to create a “genuine progress indicator” (GPI) to measure the overall health of the State’s economy. State government is actually looking to use the GPI as a complementary measure to the standard GDP (Gross Domestic Product) or GSP (Gross State Product). Vermont Digger has the story:
Starting next year, the Legislature will consider the value of things like clean water, volunteer work and time off for employees when it creates its budget.
Under a law signed by Gov. Peter Shumlin this month, the Gund Institute for Ecological Economics will create what is called a genuine progress indicator for the state.
The “GPI” will supplement the gross state product to measure the state’s economic, environmental and social well-being.
You can read all about it here.