I1 Measure What Matters[]
Make sure the indicators of progress and economic health on our societal control panel give us the information we need to steer correctly to get where we actually want to go. Use measures that, at the very least, account for the well-being of individuals and the health of human and natural communities. As is now done with GDP, tie these indicators to the accounting and reward systems of economic entities like corporations.
Instead of: Relying soley on Gross Domestic Product (GDP) which measures only the total quantity of economic activity involving the transfer of money, with no indication of the quality of that economic activity, the status of non-monitized wealth such as the existing natural resource base or non-monetized work (e.g., child care, DIY activities, community volunteering, etc.), or the status of other aspects of quality of life.
Works with:
DRAFT CARD
INFORMATION AND RESOURCES (in handbook, not on card)[]
"The time is ripe for our measurement system to shift emphasis from measuring economic production to measuring people's well being"—Joseph Stiglets and others, Commission on the Measurement of Economic Development and Social Progress
Consider:
- Quality of Life indicators,
- Bhutan's Gross National Happiness,
- Genuine Progress Indicator,
- http://en.wikipedia.org/wiki/Genuine_progress_indicator
- Estimates for different regions http://www.uvm.edu/giee/?Page=genuine/index.html
- Maryland to use GPI http://www.yesmagazine.org/new-economy/maryland-launches-genuine-progress-indicator
- and many local community indicators.
ADDITIONAL DETAIL
Such measures should exist not only for nations, regions and the world, but for individual communities whose measured realities may rightfully differ from place to place. To be most successful, such indicators should also be tied to the accounting and reward systems of economic entities like corporations.