Time to Retire GDP?

06/01/2010 07:16 PM

As a measure of economic performance, GDP should be relegated to the “dustbin of history,” says Eric Zencey in a New York Times Op Ed. Among its liabilities, the indicator fails to place adequate value on ecological services, Zencey says, which are are less expensive than built capital services yet in the long term far more essential to human well-being (not to mention other species).  Basing policy on GDP has caused us to pursue a perverse strategy of replacing the efficient and often free services offered by nature (such as sun-drying of clothes, propogation of fish and natural flood control) with resource- and cost-intensive industrial services (such as machine drying of clothes, fish farms, and levees and dams) that liquidate our natural wealth.

Read the article R.I.P G.D.P by Eric Zencey

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