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GDP and Quality of Life Measuring What We Care About The Center for the Advancement of the Steady State Economy.

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Presentation on theme: "GDP and Quality of Life Measuring What We Care About The Center for the Advancement of the Steady State Economy."— Presentation transcript:

1 GDP and Quality of Life Measuring What We Care About The Center for the Advancement of the Steady State Economy

2 History of economic growth and GDP Critical view of GDP Alternative measures to supplement GDP Recent initiatives Barriers to change Path forward Outline

3 What Is Economic Growth?

4 What Exactly Is GDP? GDP = C + I + G + (X-M)

5 History of Growth in GDP World GDP (1990 millions of dollars) Source: Angus Maddison

6 History of Growth in GDP Average World GDP per Capita (1990 dollars) Source: Angus Maddison

7 Policy on GDP Growth

8 History of economic growth and GDP Critical view of GDP Alternative measures to supplement GDP Recent initiatives Barriers to change Path forward Outline

9 Critique of GDP

10 GDP and Happiness Happiness Index Income per Person ($) Source: Inglehart and Klingemann(2000)

11 History of economic growth and GDP Critical view of GDP Alternative measures to supplement GDP Recent initiatives Barriers to change Path forward Outline

12 What is Quality of Life? Ingredients: Subsistence, Reproduction, Security, Affection, Leisure, Understanding, Participation, Spirituality, Creativity, Identity, Freedom Human Needs Soup Opportunity Natural Capital Social Capital Human Capital Built Capital Perception

13 U.N. Human Development Index

14 Ecological Footprint Source: Global Footprint Network

15 Genuine Progress Indicator $10,000 $20,000 $30,000 $40, GDP per Capita GPI per Capita U.S. GPI per Capita Source: Redefining Progress

16 Calvert-Henderson Indicators Education Employment Energy Environment Health Human Rights Income Infrastructure National Security Public Safety Recreation Shelter

17 Happy Planet Index *

18 History of economic growth and GDP Critical view of GDP Alternative measures to supplement GDP Recent initiatives Barriers to change Path forward Outline

19 Integrated Environmental and Economic Satellite Account + = X X X

20 OECD World Forum

21 EU Conference: Beyond GDP

22 Bhutan’s GNH

23 Stiglitz Commission

24 History of economic growth and GDP Critical view of GDP Alternative measures to supplement GDP Recent initiatives Barriers to change Path forward Outline

25 Inertia

26 Paradigm of Growth

27 Powerful Interests

28 History of economic growth and GDP Critical view of GDP Alternative measures to supplement GDP Recent initiatives Barriers to change Path forward Outline

29 Overcoming Inertia

30 Changing the Paradigm

31 Aligning the Efforts Maybe changing GDP isn’t that hard.

32 Let’s Get on with It!

33 Take a Position! The Center for the Advancement of the Steady State Economy


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