CitiesGoGreen - December 2008 - (Page 29)

that changes hands the healthier the economy. It does not count any social or environmental depreciation costs or the true economic value of unpaid work such as by volunteers. This is like a calculator that only knows how to add. Expenditures that detract from genuine progress or well-being are never deducted. In this way, it is quite deceptive. The Genuine Wealth Assessment starts with GDP, which is like “total revenues” in a typical income statement, and then de- ducts various human, social and natural capital “depreciation” costs. This means identifying which expenditures we would rather have avoided, such as cleaning up after an oil spill or a car crash, or the depletion of finite, non-renewable oil and gas resources. The third step involves aligning these new “Genuine Progress Indicators” (GPI) with values important to citizens. With such an alignment, citizens have reason to be more engaged in the political process. The Genuine Wealth Assessment can then help inform decision making and guide strategies, business plans, and policies toward ensuring that all five capitals are healthy and contribute to a flourishing economy of enduring happiness. Gross National Happiness Several governments and organizations are beginning to move towards this new vision of well-being. In the Kingdom of Bhutan, a measure of Gross National Hap- The Nature of Debt in America America’s future is mortgaged. The total amount of debt outstanding in the US has increased 9,471% since 1950 and now exceeds $42 trillion. Add in unofficial estimates of nearly $25 trillion in unfunded Social Security and Medicare liabilities and a mountain of debt appears, with roughly $67.8 trillion dollars or $228,603 owing per American. Even most economists do not appreciate that more than 97% of the money supply is in the form of debt, the sum total of all loans and credit outstanding in America. Unlike a personal mortgage which one can hope to repay, the total outstanding debt of a nation (i.e. the sum total of all loans and credit) simply cannot be repaid out of the current and future production of all of its households and businesses. In other words, no matter how hard everyone works, how efficient we become individually or collectively, or how much the economy grows, the total debt will remain and grow larger by the day. Why? Because economic growth primarily services interest on the growing debt rather than reducing outstanding debt. The new money needed just to service this interest requires new loans or new debt at an increasing rate, so the debt grows exponentially. Ecological economist Herman Daly explains that this debt-based system gives the economy an inherent growth bias, making it akin to a cancer which cannot stop growing until it literally eats its host. This system is both untenable and unnecessary. Viable alternatives exist, and they can start close to home. Your solution Wet weather events producing too much sanitary system inflow? Do you know how much surface inflow can occur through a manhole? • Just 1/8" of standing water = over 600 gallons per hour. • One inch of standing water = over 1,000 gallons per hour. The Man Pan is the better manhole insert: • Patented Lifting Lugs for easy installation and removal. Field staff uses the same tool to remove/replace the manhole cover to handle the Man Pan. • Patented convex Positive Arch for exceptional rigidity. • Thick gauge corrosion-resistant plastic for long life even in higher traffic areas. • Quality neoprene gasket for long life and consistent sealing. to surface inflow 724.942.9500 www.themanpan.com December 2008 The Man Pan is the simple solution to surface inflow and odor control. 29 http://www.themanpan.com http://www.themanpan.com http://citiesgogreen.com

Table of Contents Feed for the Digital Edition of CitiesGoGreen - December 2008

Citites Go Green Contents In Motion We’re Taking Steps 10,000 Rain Gardens in Kansas City Chicago Center for Green Technology Connecticut’s ‘One Thing’ Green Infrastructure for Stormwater Management Philadelphia The Economics of What Matters New Context: New Possibility

CitiesGoGreen - December 2008

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