At the recent Rio summit (the less than spectacular one) there was some discussion about whether GDP is the best measure of a nation's well-being ... in an age where we are increasingly looking at the negative impact (on the environment) of increased industrial activity.
The World Confederation of Productivity Science has been looking at the same issues for some time and has proposed the establishment of a SEE (social, environmental and economic) productivity index which tempers GDP with social and environmental factors.
It is good to see the rest of the world catching up with our thinking!
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