What does GPI mean in General Business?

This page is about the meanings of the acronym/abbreviation/shorthand GPI in the Business field in general and in the General Business terminology in particular.

Genuine Progress Indicator

Business » General Business

Translation

Find a translation for Genuine Progress Indicator in other languages:

Select another language:

  • - Select -
  • 简体中文 (Chinese - Simplified)
  • 繁體中文 (Chinese - Traditional)
  • Español (Spanish)
  • Esperanto (Esperanto)
  • 日本語 (Japanese)
  • Português (Portuguese)
  • Deutsch (German)
  • العربية (Arabic)
  • Français (French)
  • Русский (Russian)
  • ಕನ್ನಡ (Kannada)
  • 한국어 (Korean)
  • עברית (Hebrew)
  • Gaeilge (Irish)
  • Українська (Ukrainian)
  • اردو (Urdu)
  • Magyar (Hungarian)
  • मानक हिन्दी (Hindi)
  • Indonesia (Indonesian)
  • Italiano (Italian)
  • தமிழ் (Tamil)
  • Türkçe (Turkish)
  • తెలుగు (Telugu)
  • ภาษาไทย (Thai)
  • Tiếng Việt (Vietnamese)
  • Čeština (Czech)
  • Polski (Polish)
  • Bahasa Indonesia (Indonesian)
  • Românește (Romanian)
  • Nederlands (Dutch)
  • Ελληνικά (Greek)
  • Latinum (Latin)
  • Svenska (Swedish)
  • Dansk (Danish)
  • Suomi (Finnish)
  • فارسی (Persian)
  • ייִדיש (Yiddish)
  • հայերեն (Armenian)
  • Norsk (Norwegian)
  • English (English)

Definition

What does GPI mean?

Genuine progress indicator
Genuine progress indicator (GPI) is a metric that has been suggested to replace, or supplement, gross domestic product (GDP). The GPI is designed to take fuller account of the well-being of a nation, only a part of which pertains to the size of the nation's economy, by incorporating environmental and social factors which are not measured by GDP. For instance, some models of GPI decrease in value when the poverty rate increases. The GPI separates the concept of societal progress from economic growth. The GPI is used in ecological economics, "green" economics, sustainability and more inclusive types of economics. It factors in environmental and carbon footprints that businesses produce or eliminate, including in the forms of resource depletion, pollution and long-term environmental damage. GDP is increased twice when pollution is created, since it increases once upon creation (as a side-effect of some valuable process) and again when the pollution is cleaned up; in contrast, GPI counts the initial pollution as a loss rather than a gain, generally equal to the amount it will cost to clean up later plus the cost of any negative impact the pollution will have in the meantime. While quantifying costs and benefits of these environmental and social externalities is a difficult task, "Earthster-type databases could bring more precision and currency to GPI's metrics." It has been noted that such data may also be embraced by those who attempt to "internalize externalities" by making companies pay the costs of the pollution they create (rather than having the government or society at large bear those costs) "by taxing their goods proportionally to their negative ecological and social impacts".GPI is an attempt to measure whether the environmental impact and social costs of economic production and consumption in a country are negative or positive factors in overall health and well-being. By accounting for the costs borne by the society as a whole to repair or control pollution and poverty, GPI balances GDP spending against external costs. GPI advocates claim that it can more reliably measure economic progress, as it distinguishes between the overall "shift in the 'value basis' of a product, adding its ecological impacts into the equation". Comparatively speaking, the relationship between GDP and GPI is analogous to the relationship between the gross profit of a company and the net profit; the net profit is the gross profit minus the costs incurred, while the GPI is the GDP (value of all goods and services produced) minus the environmental and social costs. Accordingly, the GPI will be zero if the financial costs of poverty and pollution equal the financial gains in production of goods and services, all other factors being constant.

see more »

Popularity rank by frequency of use

How popular is GPI among other acronyms?

GPI#1#4366#12977

Embed

Citation

Use the citation below to add this abbreviation to your bibliography:

Style:MLAChicagoAPA

"GPI." Abbreviations.com. STANDS4 LLC, 2021. Web. 25 Feb. 2021. <https://www.abbreviations.com/term/87497>.

Discuss this GPI abbreviation with the community:

0 Comments

    Quiz

    The ultimate acronym test

    »
    CBC
    • A. Continuous Blood Circulation
    • B. Central Blood Culture
    • C. Central Bypass Cost
    • D. Complete Blood Count

    Free, no signup required:

    Add to Chrome

    Get instant explanation for any acronym or abbreviation that hits you anywhere on the web!

    Free, no signup required:

    Add to Firefox

    Get instant explanation for any acronym or abbreviation that hits you anywhere on the web!