New ways to measure prosperity

This article was published in the Sept. 2015 issue. 

Last year, the topic was growing Hawaii’s economic pie. This year, the annual conference of the Hawaii Economic Association will focus on how to expand other facets of prosperity, such as environmental well-being, sustainability and social quality of life. Everyone is invited.

Gross domestic product, or GDP, is the standard measure of prosperity, says John Knox, an HEA director at large and immediate past president. But there is much more to well-being.

“If there’s any place in the country where the question of whether and how environment and culture should be joined with economic ‘progress’ measures, it’s Hawaii,” Knox says. “Everyone wants a strong economy here, but few choose to live in this place for economic reasons alone.”

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