Monday, March 15, 2004

GNP or ISEW

"GNP is simply a gross tally of the financial value of all products and services bought and sold. There is no account taken of hidden costs, or distinction made between transactions that add to well-being, and those that diminish it:clearing up after major oil spills, or fighting wars, are great news for the GNP, but hardly for human well-being." 1

"The Index of Sustainable Economic Welfare (ISEW) attempts to measure the true state of people's well-being by correcting GDP over a range of issues, such as income inequality, environmental damage, and the sepletion of environmental assets." 1

1. Caroline Lucas, Winter 2004, Interview with Caroline Lucas by Derek Wall.