Tracking the Sputnik Economy

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The Economists' Voice, ISSN: 1553-3832, Vol: 8, Issue: 1

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10.2202/1553-3832.1833; 10.2202/2154-4611.1001
Park, Sung-Hoon; Shogren, Jason F.
Walter de Gruyter GmbH
Business, Management and Accounting; Economics, Econometrics and Finance; Business
article description
In his 2011 State of the Union address, President Obama stressed investment in infrastructure, education and clean energy in the U.S. economy to "win the future." Edward Barbier of the University of Wyoming argues that to track the progress of such an investment strategy will require replacing GDP per capita as the main economic indicator with a Net Domestic Product (NDP) measure that is "adjusted" for real depreciation or appreciation in the reproducible, human and natural capital stock. © Berkeley Electronic Press.