Alleviating the pitfalls of the GDP

A new index, called the Canadian Index of Wellbeing (CIW), is in development to try and measure Canada's overall well-being in terms of more holistic indicators (see PDF below), and supplement the raw spending and investment Gross Domestic Product (GDP) measures. I've always had a problem with the cold, hard, context-less facts the GDP presents and am glad a more well-rounded approach is being explored in measuring real societal progress.

The Toronto Star is running an excellent series of articles on the War on Poverty and documents this recent development in the article below:

"A richer way of measuring wealth"
http://www.thestar.com/News/article/183223

CIW Indicators
http://www3.thestar.com/static/PDF/070219_wellbeing.pdf

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