Economist Explains Genuine Progress Indicator
The Vermont Legislature’s Government Accountability Committee recently heard a report on the state’s economic status based on its Genuine Progress Indicator. The G-P-I is an emerging measure of economic activity that some economists say more accurately reflects economic activity than the Gross State or Gross Domestic Product. North Country Bureau Chief Pat Bradley spoke with Jon Erickson, Professor of Ecological Economics at the University of Vermont Gund Institute, a leading expert on the Genuine Progress Indicator.
The Genuine Progress Indicator was developed by economist Herman Daley in the 1980's, and the University of Vermont’s Gund Institute is considered a hub for GPI research. It will conduct a GPI study for the state of Massachusetts this fall.