Measuring sustainable well-being is an important task in determining whether people's lives are improving or becoming worse over time. A new index, the Genuine Progress Indicator (GPI), has been developed in order to measure sustainable well-being. The GPI is comprised of a large number of...

Australia has recorded consistently strong levels of economic growth in recent times. Under conventional considerations, the well-being experienced by Australians would also be considered to have increased in equal terms over this period. This is because aggregate standard national accounts have...

This paper argues that GDP growth in both developed and developing countries has associated costs that can outweigh the benefits and thus reduce sustainable well-being. This conclusion is based upon the findings of empirical applications of the Genuine Progress Indicator (GPI) to a range of...

For some time now, ecological economists have been putting forward a ‘threshold hypothesis’ – the notion that when macroeconomic systems expand beyond a certain size, the additional cost of growth exceeds the flow of additional benefits. In order to support their belief, ecological...

Andrew Brennan (Ecological Economics, 2013--this issue) has argued that the Index of Sustainable Economic Welfare (ISEW) and Genuine Progress Indicator (GPI) are theoretically flawed because, as indicators designed to capture the net psychic income generated by economic activity, they fail to...

In conventional terms, the optimal price, extraction quantity, and depletion time of a non-renewable resource is based on the Hotelling (1931) Rule-also referred as Malthusian Flow Scarcity conditions. Since any measure of resource scarcity should account for the need to sustain...

For nearly a decade, a small number of economists have been promoting a Job Guarantee to achieve full employment (Mitchell and Watts, 1997; Wray, 1998). As an ecological economist, I have also been a recent supporter of the Job Guarantee on the basis that: (a) the macroeconomics of the Job Guarantee...