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...Economists have long noted imperfections in how GDP - the market value of all goods and services produced in an economy - is calculated. For instance, unpaid work that might benefit society, like raising children, is not included in the calculations. Societal failures, however, often are: the cost of keeping 2 million people in prison boosts the U.S.'s GDP, as does fuel sales, despite the correlation with traffic congestion and pollution. Sustainability is also ignored - a heavily wooded country could see its GDP skyrocket if it turned over all its land to loggers. (See 10 ways your job will change...

Author: /time Magazine | Title: Searching for a Better Wealth Measure Than GDP | 9/16/2009 | See Source »

...person panel, called the Commission on the Measurement of Economic Performance and Social Progress, makes some concrete suggestions, like looking at household income and wealth rather than national production to avoid the false boost that debt-fueled consumer spending gives to GDP. Nonmarket activities such as raising children, caring for the elderly and housecleaning should be taken into account, the panel says, as should environmental sustainability. But most important, it suggests looking at "soft" economic indicators that are linked to well-being, such as access to education, population health and leisure time...

Author: /time Magazine | Title: Searching for a Better Wealth Measure Than GDP | 9/16/2009 | See Source »

Shown around by a linebacker and an offensive lineman that looked more like giants than real people when compared to the under-four-foot-tall class, the children went on a tour and ran drills with the players...

Author: By Alexandra J. Mihalek, CRIMSON STAFF WRITER | Title: ALEX IN WONDERLAND: Young Fans Back Harvard Sports | 9/16/2009 | See Source »

...Lawrence Berkeley National Laboratory, won for inventing simple, inexpensive water-purification systems and stoves for use in the developing world. Kirk Smith, a scientist at the University of California, Berkeley, was recognized for his work connecting indoor air pollution - mostly from cooking - to the premature death of women and children in developing countries. But scientists weren't the only winners: Joel Salatin, a pioneering sustainable farmer in Virginia, and Chip Giller, the publisher of the green website Grist.org, both won for changing attitudes in mainstream agriculture and the media...

Author: /time Magazine | Title: Heinz Awards Go to Environmental Champions | 9/15/2009 | See Source »

When Senator Edward M. Kennedy died Aug. 25, it effectively signaled the end of America's most glamorous political dynasty. The Kennedy name has long held almost mythic status in this nation's public life, and Teddy - the youngest of Joseph and Rose's nine children - lasted the longest and suffered the greatest tribulations. The violent and sudden deaths of his three brothers, a plane crash, the scandalous (and, some say, unforgivable) night at Chappaquiddick: all juicy fodder for a memoir. Luckily for the curious, Kennedy had been working on one for two years before his death. It hits bookstores...

Author: /time Magazine | Title: True Compass: A First Look at Ted Kennedy's Memoir | 9/14/2009 | See Source »

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