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What Really Counts: The Case for a Sustainable and Equitable Economy
Politicians and economists fixate on “growing the economy”―measured by a country’s gross domestic product. But this yardstick counts harmful activities such as greenhouse gas emissions, plastic waste, and cigarette sales as gains, and it ignores environmental protection, voluntary community work, and other benefits. What we measure is a choice, and what is and isn’t counted determines what sorts of policies are enacted. How can we shift the focus to well-being and quality of life?
What Really Counts is an essential, firsthand story of the promise and challenges of accounting for social, economic, and environmental benefits and costs. Ronald Colman recounts two decades of working with three governments to adopt measures that more accurately and comprehensively assess true progress. Chronicling his path from Nova Scotia to New Zealand to Bhutan, Colman details the challenge of devising meaningful metrics, the effort to lay the foundations of a new economic system, and the obstacles that stand in the way. Reflecting on successes and failures, he considers how to shift policy priorities from a narrow economic-growth agenda toward a future built on sustainability and equity.
Colman has taken the critique of GDP outside the academy and attempted to realize an alternative. The lessons he offers in What Really Counts are vital for anyone interested in how we can measure what matters―and how better measures can help build a better world.
What Really Counts is an essential, firsthand story of the promise and challenges of accounting for social, economic, and environmental benefits and costs. Ronald Colman recounts two decades of working with three governments to adopt measures that more accurately and comprehensively assess true progress. Chronicling his path from Nova Scotia to New Zealand to Bhutan, Colman details the challenge of devising meaningful metrics, the effort to lay the foundations of a new economic system, and the obstacles that stand in the way. Reflecting on successes and failures, he considers how to shift policy priorities from a narrow economic-growth agenda toward a future built on sustainability and equity.
Colman has taken the critique of GDP outside the academy and attempted to realize an alternative. The lessons he offers in What Really Counts are vital for anyone interested in how we can measure what matters―and how better measures can help build a better world.
376 pages, Paperback
Published April 12, 2022
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Displaying 1 - 4 of 4 reviews
April 26, 2023
There has been an increasing recognition that GDP (Gross Domestic Product) is an incomplete measure for the state of a country's progress or well-being because it is simply a summation of economic activity, whether conducive to well-being or inimical to it. Pollution that requires cleanup, violence that requires rebuilding, etc., all increase economic activity even though they work contrary to foundational social goals. GDP was not, in its origins, intended as the supreme economic statistic, but it has become that, hiding more than it reveals.
But with that recognition comes a question: are there alternatives? These have typically fallen into a few strains: complementary collections of indicators, modified accounting, or new composite numbers.
Ronald Colman's experience crosses the three but centers on the Genuine Progress Indicator, the study and use of this often stretches across them. The GPI is based on assessing the economic value of the unvalued (e.g., volunteer work, unpaid care work) and the economic losses imposed by social ills (e.g., pollution, depletion of nature, crime, etc.). Colman founded GPI Atlantic to explore and advocate for the uses of the GPI model in Nova Scotia and then was involved in efforts in New Zealand and Bhutan (known for the Gross National Happiness metric) to establish alternative indicator systems.
As Colman recounts the experiences, he reflects on the obstacles posed to fully embedded these new systems into governance. Some results are simply easier to communicate than others, and sometimes reports can be used for messages other than what was intended (e.g., a report on the social cost of crime that was used by some politicians to justify more policing, rather than the intended focus on social determinants). Bureaucracies are resistant to change, as the status quo creates a formidable lock-in effect -- a phenomenon seen when trying to promote work sharing as against layoffs or more comprehensive education assessment as against standardized testing. Financing could often be a problem, as raising money for holistic infrastructure is always harder than raising funds for specific projects (which have constituencies of varying means -- although, as he noted, health-related reports could often secure government research grants). There are methodological barriers -- how *do* you properly measure the unmeasurable, or factor in future generations? But the core question is one that he most directly addresses at the end (although alluding to it throughout): that of whether capitalism is compatible with sustainability. The fact that a robust GPI model would fundamentally run up against growth-centric capitalism will always work against it in politics, leading parties to suddenly change tune when in office. But it speaks to the fact that, although changing what we measure is key, we need to change the society doing the measuring first.
But with that recognition comes a question: are there alternatives? These have typically fallen into a few strains: complementary collections of indicators, modified accounting, or new composite numbers.
Ronald Colman's experience crosses the three but centers on the Genuine Progress Indicator, the study and use of this often stretches across them. The GPI is based on assessing the economic value of the unvalued (e.g., volunteer work, unpaid care work) and the economic losses imposed by social ills (e.g., pollution, depletion of nature, crime, etc.). Colman founded GPI Atlantic to explore and advocate for the uses of the GPI model in Nova Scotia and then was involved in efforts in New Zealand and Bhutan (known for the Gross National Happiness metric) to establish alternative indicator systems.
As Colman recounts the experiences, he reflects on the obstacles posed to fully embedded these new systems into governance. Some results are simply easier to communicate than others, and sometimes reports can be used for messages other than what was intended (e.g., a report on the social cost of crime that was used by some politicians to justify more policing, rather than the intended focus on social determinants). Bureaucracies are resistant to change, as the status quo creates a formidable lock-in effect -- a phenomenon seen when trying to promote work sharing as against layoffs or more comprehensive education assessment as against standardized testing. Financing could often be a problem, as raising money for holistic infrastructure is always harder than raising funds for specific projects (which have constituencies of varying means -- although, as he noted, health-related reports could often secure government research grants). There are methodological barriers -- how *do* you properly measure the unmeasurable, or factor in future generations? But the core question is one that he most directly addresses at the end (although alluding to it throughout): that of whether capitalism is compatible with sustainability. The fact that a robust GPI model would fundamentally run up against growth-centric capitalism will always work against it in politics, leading parties to suddenly change tune when in office. But it speaks to the fact that, although changing what we measure is key, we need to change the society doing the measuring first.
June 14, 2025
Could government, state and economic leaders please all be forced to read this and ACT accordingly??
It's nothing revolutionary, but it shows in an easy to read and to understand way that the dominance of GDP as a measure of human progress keeps us sticking to the path that we're on - a path that destroys the natural resources we as humans need to survive and that causes unimaginable social inequality.
Ronald Colman presents the results of years of studying and calculating by himself and his team that lead to an alternative measure of progress that takes into account economic, social, environmental and cultural aspects and hence points to a real sustainable development of societies.
All this is written in a personal, easy to understand style.
It's nothing revolutionary, but it shows in an easy to read and to understand way that the dominance of GDP as a measure of human progress keeps us sticking to the path that we're on - a path that destroys the natural resources we as humans need to survive and that causes unimaginable social inequality.
Ronald Colman presents the results of years of studying and calculating by himself and his team that lead to an alternative measure of progress that takes into account economic, social, environmental and cultural aspects and hence points to a real sustainable development of societies.
All this is written in a personal, easy to understand style.
February 1, 2021
I really wanted to love this book, as I am constantly trying to find educational, up to date information on sustainability and our environment, but the book had so many spelling errors and broken sentences I could barely get through it. I am hoping that this is just such a raw copy that it will be adjusted, because I see potential for this book, but anyone who reads a lot will find it beyond frustrating to read. I am giving 2 stars for the potential, and meaning beyond the book, but at this time, I would not recommend. I just reviewed What Really Counts by Ronald Colman. #WhatReallyCounts #NetGalley
June 17, 2021
This is an important, timely and well-written book about the need to change the dominant economic model in order to improve the well-being of people and the planet.
Dr. Ronald Colman has spent the last 25 years working to introduce well-being indicators and full cost accounting at the local, regional, national and international level. The book chronologically outlines his successes and failures, and concludes with the lessons he’s learned and his thoughts on the best way forward.
This book is highly recommended for anyone who wants to go deeper on the underlying causes and suggested solutions to many of the social and environmental problems facing humanity today.
Dr. Ronald Colman has spent the last 25 years working to introduce well-being indicators and full cost accounting at the local, regional, national and international level. The book chronologically outlines his successes and failures, and concludes with the lessons he’s learned and his thoughts on the best way forward.
This book is highly recommended for anyone who wants to go deeper on the underlying causes and suggested solutions to many of the social and environmental problems facing humanity today.
Displaying 1 - 4 of 4 reviews