University of Vermont

Gund Institute for Ecological Economics

Gund Research Profile - The Vermont GPI Project

Gund Research Fellow, Eric Zencey, discusses the Vermont GPI Project, which is working to compile an updated Genuine Progress Indicator for Vermont for implementation as an alternative policy and budgeting instrument in the state. 

A sustainable economy needs a better basic indicator of progress and well-being than Gross Domestic Product. GDP doesn't deduct costs like ecosystem degradation and it ignores many positive contributions to well-being, like infrastructure or unpaid domestic work. The Genuine Progress Indicator is emerging as one standard methodology for including costs and benefits like these in our basic economic accounts.  The Gund Institute has been authorized by the state of Vermont to compile such an indicator set, and to report it regularly to the governor's office and the legislature for use in their decision making.