Research & Economic Analysis

GPI Home	Economic Indicators			Social Indicators		Environmental Indicators
GPI Details	Adjusted Personal Consumption Expenditure	Public & Non-Profit Provision of Goods/ Services	Built Capital Services	Social and Human Capital Services	Social Costs	Protected Areas Services	Local Pollution Costs	Depletion of Natural Capital

SOCIAL AND HUMAN CAPITAL SERVICES (+KS/KH)

 

GPI = U(PCE_ADJ + PP + KB + KS + KH – SC + KN – POL – DKN)

where PCE_ADJ = (PCE – DEFR – HI – CDE)*INQ

 

Social and Human Capital Services (+KS/KH)

Services from investments in Social and Human Capital are accounted for by estimating a flow of social payoffs.

HI GPI and KS/KH Excel Table

Social and Human Capital Services (+KS/KH) Sub Indicators:

College Graduates

Higher education provides positive externalities to society to be accounted for. Not to be confused with investments in higher and vocational education under the Household Investment (-HI) indicator.

Manufacturing Jobs

Manufacturing jobs provide positive externalities to society to be accounted for.

Leisure

Leisure hours enhance personal welfare and are included as a welfare measurement; utilizes American Time Use Survey (ATUS) data on annual workday leisure hours and multiplies the hours by the opportunity cost (or post-tax median wage).

Internet

Captures the positive externalities and social benefits of internet access. 

Unpaid Work

Non-market unpaid work provides beneficial social services not accounted for in PCE or GDP. Includes non-market time from volunteering, housework, and caregiving from the ATUS; data on hours spent on each non-market labor category is multiplied by the market cost of substitutable paid labor.

HI GPI Unpaid Work Sub Indicators Excel Table