User:Dojabat/final article
These are my recommendations for revising the article: Eco-capitalism.
- added citations in the Genuine progress indicator section that further elaborated on the GPI and its potential future.
- Talked about why the GPI is preferred over the GDP.
Copied content from Eco-capitalism; see that page's history for attribution.
Genuine progress indicator[edit]
Nobel prize-winning economist, Robert Solow, believes the United States and Europe will soon reach a point that would push the environmental crisis over the edge.[1] The current standard of using the gross domestic product (GDP) as an indicator of welfare is criticized for being inaccurate. An alternative to GDP, the genuine progress indicator compensates for the shortcomings of the GDP as a welfare indicator by accounting for environmental harms as well as other factors that affect consumption, such as crime and income inequality.[2] In the last 70 years, there has been an increase in the United States GDP and a decrease in the GPI.[1] However, by implementing the GPI economist have seen that the negative impact outweighs the economic growth.[3] The GPI's main goal is to regulate whether a country's economic growth is doing more harm than good to the environment. This allows there to be more environmental consciousness. If a country is economically growing, yet rapidly killing the planet no one will be around to see the benefits of that growth. A study done in Ohio showed that many of the trends seen by the GPI are due to personal consumption. This study also found that the best way to get the GPI to be accepted everywhere is to get full government and citizen support.[4]
- ^ a b Victor, Peter (2010). "Questioning economic growth". Nature. 468 (7322): 370–371. doi:10.1038/468370a. ISSN 1476-4687.
- ^ Talberth, John; Cobb, Clifford; Slattery, Noah (2006). "The Genuine Progress Indicator 2006: A Tool for Sustainable Development". Redefining Progress.
- ^ Cook, David; Davidsdottir, Brynhildur; Petursson, Jón Geir (2015-09-01). "Accounting for the utilisation of geothermal energy resources within the genuine progress indicator—A methodological review". Renewable and Sustainable Energy Reviews. 49: 211–220. doi:10.1016/j.rser.2015.04.171. ISSN 1364-0321.
- ^ Bagstad, Kenneth J.; Shammin, Md Rumi (2012-07-01). "Can the Genuine Progress Indicator better inform sustainable regional progress?—A case study for Northeast Ohio". Ecological Indicators. 18: 330–341. doi:10.1016/j.ecolind.2011.11.026. ISSN 1470-160X.