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Towards Genuine Progress in the Vermont Economy

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06/03/2012

Given the life and times of the 21st century, the desire for economic accounting reform is gaining traction. How do we measure the well-being and progress of our citizens? What is GDP, and what is it not? In Vermont there is an exciting movement towards effecting the Genuine Progress Indicator which would help the state more towards qualitative improvement for total well-being rather than just quantitative growth of the economy. Learn about the history of measures of economic aggregates like GDP and wrestle with the question: is the growth model broken and if so, what will take its place? What are our economic objectives and does it recognize externalities and working within the limitations of resource scarcity?

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