True Value Metrics
= A system of metrics that includes both the money profit and the concept of value can go a long way towards enabling reform of the global economic system.
URL = http://www.truevaluemetrics.org/
Description
"Why TrueValueMetrics?
You manage what you measure. The modern money profit capitalist market economic system is in crisis following several decades of economic mismanagement arising in large part because the metrics of corporate profit, investor value and GDP growth cannot be used to get the best outcomes from a modern highly productive modern economy ... or, for that matter from the vast population who are in abject poverty at the 'bottom of the pyramid'
A system of metrics that includes both the money profit and the concept of value can go a long way towards enabling reform of the global economic system.
What is TrueValueMetrics?
Money profit accounting is ubiquitous. Every organization uses a similar construct of revenues and costs to determine money performance ... profit. Money profit accounting ignores important impacts on staekholders other than the investor. Other econmic measures like GDP also ignore much of social and economic activity that is critical to quality of life. TrueValueMetrics is accounting that incorporates value into the basic money accounting construct. How does TVM quantify value?
People say value depends on too many factors to be quantified. In TVM, the diversity of opinion about value becomes a strength, not a weakness. In a free society my 'values' may be different from yours, and we should be free to optimize our own values. But surprisingly, even in quite different cultures and societies there are many important values that are central to quality of life. In TVM there are both the individual value profiles and also a range of 'standard profiles' which serve as benchmarks."