Part 8/11:
Toward Better Measures of Societal Progress
Given the limitations of GDP and the potential of land value tax, many experts advocate for alternative metrics that better reflect human well-being and societal health:
Genuine Progress Indicator (GPI): Adjusts GDP by accounting for factors like income distribution, environmental costs, and unpaid work.
Human Development Index (HDI): Focuses on health, education, and standard of living.
Societal Progress Index: Incorporates various social, economic, and environmental indicators to reflect overall societal health.
Gross Happiness and Well-Being Metrics: Centers on subjective happiness, life satisfaction, and social cohesion rather than purely economic output.