In 2010, Governor Martin O’Malley adopted the Genuine Progress Indicator (GPI) as an overall measure of economic performance. The GPI is an alternative to gross domestic product (GDP) and its state-level variant gross state product (GSP). Unlike those conventional metrics, the GPI takes inequality and the social and environmental costs of economic activity into account and thus is widely regarded as a superior measure of how well the economy is performing.
In this series, CSE examines the economic impacts of legislation passed by the 2014 General Assembly from the GPI perspective. In particular, CSE estimates what Maryland’s GPI would be today if the subject legislation were fully implemented. These GPI impact notes build on and are intended to supplement the fiscal and policy notes now being prepared by the Department of Legislative Services. This work is made possible by generous funding from the Town Creek Foundation.