GDP: Gauging Dematerialised Progress! By Hazel Henderson* ST. AUGUSTINE, Florida, Aug 2013 (IPS) -As of Aug. 1, 2013, the U.S. Bureau of Economic Analysis (BEA) finally stepped into our new 21st century. Gross Domestic Product (GDP) will now include much of the intangible production and services which …
New GDP Accounting Makes a Difference Locally
The narrow ”economism” shown by critics of the Picasso Exhibit running its last week in St. Augustine, Florida, is a hangover from obsolete economic textbooks still unable to record “intangibles,” those valuable services which today make up some 70% of advanced economies and services sector companies’ balance sheets. These old …