Genuine Progress Indicator makes its way… in Vermont (USA)

On the 8th of May 2012, the government of Vermont (USA) has adopted a regulation regarding the introduction of an indicator of genuine progress to replace GDP as the key parameter of macro-economic policy making. Here is an excerpt from Art. 113 of the new bill:

The GPI is an estimate of the net contributions of economic activity to the well being and long-term prosperity of our state’s citizens, calculated through adjustments to gross state product that account for positive and negative economic, environmental, and social attributes of economic development.

…It is the intent of the general assembly that once established and tested, the GPI will assist state government in decision-making by providing an additional basis for budgetary decisions, including outcomes-based budgeting; by measuring progress in the application of policy and programs; and by serving as a tool to identify public policy priorities, including other measures such as human rights.

3 responses to “Genuine Progress Indicator makes its way… in Vermont (USA)

  1. Pingback: The Global Summit 2012·

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