HI GPI – SOCIAL AND HUMAN CAPITAL SERVICES

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)HI GPI and KS/KH graph

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 Download 

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

 

College Graduates

Higher education provides positive externalities to society to be accounted for; utilizes U.S. Census Data for share of population +>25 yoa with Bachelor’s degrees and an estimated $16,000 per graduate for social payoff. 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; utilizes Bureau of Labor Supply (BLS) local and state data on manufacturing jobs, and assigns an external benefit value of $10,000 per job year based on willingness to pay analyses from BLS.

Leisure

Leisure hours enhance personal welfare and are included as a welfare measurement; utilizes 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. Combines an estimate of the population 3 years old+ with home internet access with an estimated consumer surplus generated via internet access per user per year.

Unpaid WorkGraph Unpaid Work Sub indicator

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 American Time Use Survey (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 Download