Page "Index of Sustainable Economic Welfare" Paragraph 6

The ISEW was originally developed in 1989 by Herman Daly and John B. Cobb, but later they went on to add several other " costs " to the definition of ISEW.

This later work resulted yet an other macroeconomic indicator Genuine Progress Indicator ( GPI ): see sustainability measurement.

The GPI is an extension of ISEW, that stresses genuine and real progress of the society and seeks especially to monitor welfare and the ecological sustainability of the economy.

The ISEW and GPI summarise economic welfare by means of a single figure according to same logic as GDP summarises economic output into a single figure.

Beside economic issues, social and environmental issues in monetary terms are included.