Macroeconomics 9th Edition by David Colander

Exercise 20

Unlike GDP, the "Genuine Progress Indicator" measures the costs as well as the benefits of economic growth by accounting for how production and consumption create social ills such as inequality and create environmental problems that threaten future generations, such as global warming and the depletion of natural resourses.PI adjusts GDP downward to account for these costs, along with underemployment and the loss of leisure time.he result: the GPI rose from the 1950s through the early 1970s but has fallen since and today is still below its level in 1973.
a.n your opinion, does gross national product per capita or the Genuine Progress Indicator provide a better measure of economic progress
b.hy (Radical)