Looking Beyond the GDP: Quantitative Evaluation of the “Holistic Progress Index” (HPI)
Volume 2, Issue 4 (2013), pp. 57–64
Pub. online: 28 June 2013 Type: Article Open Access
28 June 2013
28 June 2013
As an alternative to the conventional GDP, a new “progressive” GDP termed as the “Holistic Progress Index” or the HPI has been proposed; and an original approach to its quantitative evaluation has been presented. The HPI integrates social, economic, ecological and political aspects of human progress. The rationale of HPI and its evaluation methodology are presented. As proposed, the HPI is based on three major parameters i.e. the Net GDP per capita, Socio-Ecological Progress Index and Socio-Political Progress Index representing Peaceful Development, Sustainability and Human Freedom respectively. The factors involved in the quantitative evaluation of HPI are GDP, military expenditure, health, education, carbon emission, poverty reduction, leisure, population growth, crime and human freedom. Hence the proposed HPI is much more comprehensive than the conventional GDP. Future actions / projects required to utilize the concept of HPI are also proposed and discussed. It is concluded that a pursuit of the growth in HPI (rather than a growth in GDP alone) will lead to Peaceful and Sustainable Development without curtailing Human Freedom.