Replace GDP with a genuine progress indicator that accounts for ecological cost

GDP goes up when we cut down a forest. It goes up when we treat the respiratory diseases caused by the pollution from cutting it down. It goes up when we pay lawyers to argue about who is liable. At no point does GDP register that we have lost a forest.

This is not a fringe observation. It was made by Robert Kennedy in 1968 and economists have been saying it ever since. GDP measures economic activity, not progress. A country could be destroying its soil, poisoning its rivers, and cooking its atmosphere, and as long as money changes hands in the process, GDP says things are going well.

Adopt a genuine progress indicator like the GPI or the Doughnut Economics framework alongside GDP. Factor in natural capital depletion, unpaid care work, income distribution, and long-term environmental liabilities. Use it to assess every budget and every major investment decision. We will not stop wrecking the things that keep us alive until we start counting them as valuable.