University of Vermont

University Communications

Associated Press Covers UVM Professors’ Testimony on Measuring State’s Economy Using Genuine Progress Indicator

Bloomberg Businessweek is among the outlets that picked up an AP story covering testimony by UVM experts before a Vermont legislative committee showing that a new measure of economic well-being, GPI (genuine progress indicator), depicted a far less optimistic outcome for 2011 than did the traditional “gross state product.” The story cites Eric Zencey of UVM's Gund Institute for Ecological Economics and Jon Erickson, dean of the Rubenstein School of Environment and Natural Resources, who argue that issues measured by the new tool -- such as environmental degradation, income inequality, productive work or family time lost as people commute to work -- negatively impact the economy while others -- like time spent in volunteerism -- factor as positives. Read the story...