1. Macroeconomic Measurement: Environmental and Social Dimensions
Chapter Six:
Macroeconomic Measurement: Environmental and Social Dimensions

2. Why GDP is Not a Measure of Well-Being

3. Figure 6.1: Average Subjective Well-Being and GDP per Capita
Sources: SWB from World Values Survey online data analysis, 2005–2008 survey wave; GDP from World Development
Indicators online database

4. Alternative Approaches to Representing Well-Being

5. Value (billions of dollars)
Table 6.1: Genuine Progress Indicator,
United States, 2004
Component of GPI
Value (billions of dollars)
Personal consumption
7,589
Personal consumption after inequality adjustment
6,318
Value of household work and parenting
+ 2,542
Value of higher education
Value of volunteer work
Service value of consumer durables
Service value of highways and streets
Costs of crime 34
Loss of leisure time
402
Costs of underemployment
177
Cost of consumer durables
1,090
Costs of commuting and auto accidents
698
Costs of environmental defensive expenditures 21
Costs of pollution
178
Value of lost wetlands, farmland, and forests
368
Costs of nonrenewable energy depletion
1,761
Damages from carbon emissions and ozone depletion
1,662
Adjustment for capital investment and foreign borrowing
Genuine Progress Indicator
4,419
Talberth et al., The Genuine Progress Indicator 2006: A Tool for Sustainable Development. Redefining Progress, 2007, pp. 1–2.

6. Figure 6.2: Comparison of GDP and GPI per Capita, United States, 1970-2004
Gross Domestic Product
GDP and GPI Per Capita (2000 US $)
FIGURE 6.2
Genuine Progress Indicator
Talberth et al., The Genuine Progress Indicator 2006: A Tool for Sustainable Development. Redefining Progress, 2007, pp. 1–2.

7. Figure 6.3: New Zealand’s Auckland Regional GPI vs. DP, 1990-2006
Source: McDonald, et al., 2009

8. Figure 6.4: Components of the GPI for Maryland, 1960-2010
Source:

9. Human Development Index (Scale: 1 - 100)
Figure 6.5: Selected Countries as Ranked in the Human Development Index
Human Development Index (Scale: ) —
Australia, Norway, Ireland
Canada, Netherlands, Germany, Japan, Sweden, United States, Denmark, Switzerland, Spain, France, Belgium, Italy, Finland, Austria, Greece
United Kingdom, Poland, Singapore
Argentina, Portugal, Mexico
Russia, Colombia
Brazil, China, Philippines, Thailand, Turkey
Indonesia
South Africa
Kenya, India, Bangladesh
Pakistan
Nigeria
FIGURE 6.5
Source: UNDP, Human Development Report, 2011 data

10. Accounting for the Environment

11. Figure 6.6 Indonesian GDP Adjusted for Resource Depreciation
Source: Repetto, Robert, et al. (1989), Wasting Assets: Natural Resources in the National Income Accounts. Washington, D.C.: World Resources Institute.