In Vermont, will GPI replace GDP?

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.

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