The GreenplanetFM Podcast with Tim Lynch

Ron Colman: Genuine Economic Indicators. How do we factor losses into our economy to give a true cost to the nation?

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Synopsis

There is a growing awareness of what Genuine Progress Indicators do - as GDP includes all costs to the nation, whilst GPI, wants to address the losses to society.   Crime and family breakdown        is seen as Gross Domestic Product Household and volunteer work        is seen as Gross Domestic Product Pollution and its consequences        is seen as Gross Domestic Product Long term environmental damage    is seen as Gross Domestic Product Even War goes through the books as Gross Domestic Product! So all of the above, don’t really benefit society at all - as they are all major losses yet, Governments globally have always classified these as a measure of economic growth! In this interview which becomes quite riveting in the end - Dr Coleman talks of the challenges of putting GPI in place within the government economic apparatus.  That prior to the 3 term National Party Key administration, that Labour Minister of Finance Michael Cullen was very interested in this concept - but Labour was voted out of office - an