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Another source of GDP growth has been the Iraq War. This has fuelled growth in the military-industrial complex yet it ultimately contributes nothing to the wealth of the nation. We see that soldiers are killed and injured, national levels of fear appear to have increased, and goodwill in the world has been diminished. War is generally subtracted from the GPI

In the wake of the dot-com bust, the Federal Reserve lowered interest rates into disequilibrium. This, along with other policy decisions, spurred a bubble in one of the few growth sectors at that time, the housing market. The result was an increase in GDP. Yet, real progress was not made as a result of this housing bubble. Many sales were from one speculator to another. New home construction boomed, but this spread suburbia further into our farmland and natural areas. Now even the GDP is under threat. Banks have closed, jobs have been lost and houses have been foreclosed on. None of this would normally be considered progress, but the GDP measured the housing bubble as such right up until mid-September of this year......

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