A policy analysis of Victoria's Genuine Progress Indictor

Matthew Clarke and Philip Lawn

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2008, vol. 37, issue 2, 864-879

Abstract: Measuring sustainable well-being is an important task in determining whether people's lives are improving or becoming worse over time. A new index, the Genuine Progress Indicator (GPI), has been developed in order to measure sustainable well-being. The GPI is comprised of a large number of individual cost and benefit items that account for various social, environmental and economic impacts associated with a growing economy. Various policy implications flow from the result of applying this new well-being metric. This paper briefly reviews an application of the GPI to the state of Victoria, Australia for the period 1986-2003, before discussing the policy implications of this application.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:37:y:2008:i:2:p:864-879

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