Growing Economy and Growing Inequality

Growing Economy and Growing Inequality
One of the fatal flaws of GDP is that it does not recognize environmental costs of economic activity, and these costs are often left for society to pay while some costs are passed down to future generations. The United States’ “ecological footprint”—its consumption of resources and burdening of natural waste absorption capacities—is nearly double the average rate found in other advanced countries. From an environmental perspective, U.S. living standards are dangerously inefficient and grossly out of balance with average human needs as reflected in other advanced societies.