GEO 702 Chapter Notes - Chapter 1: Genuine Progress Indicator, Voluntary Sector, National Accounts
8 May 2019
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Document Summary
"recovery" is not always good for the average citizen or even the social health of the nation. Many politicians say we"re just going through the difficult transition to the new global economy but we"ll reap the benefits soon enough. But as an organization called redefining progress says the real problem is how we view and measure the economy. Gross domestic product or gdp, the tool economists use to gauge the economy paints an inaccurate picture and yet we continue to make financial decisions. Gdp treats the depletion of natural resources as current income, not long-term loss. Gdp makes no distinction between desirable and undesirable economic activity. Gdp ignores volunteer work, and "non-monetary" activity such as women"s unpaid household and child-rearing work without the county would grind to a halt. Gdp hides the growing gap between rich and poor. For these reasons, redefining progress advocates scrapping the gdp in favour of something it calls the genuine progress indicator (gpi)
