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but it also encourages unsustainable levels of consumption and too little savings At the same time Kuznets was leading the effort to implement national income accounting, the Keynesian revolution was taking hold in the United States, shifting economists focus to the demand side Policy makers no longer saw people solely as workers, farmers, and businesspeople, but primarily as consumers Keynesians view more consumption as a way to lead to a higher GDP and thus greater economic well-being In the United States where we borrow to support our consumption habits, this is arguably not the case Land lls full of plastic soda bottles, chronic obesity, and mounting debt tell us that more consumption is not always better Changing our dashboard, that is, amending or supplementing GDP as our predominant measure of well-being, would not be without precedent In 1991 the United States switched from using gross national product to gross domestic product in order to conform with international standards Statistical indicators perform an essential function by setting the tone for policy makers They serve as red ags for the public attention But if political leaders are trying to maximize GDP and GDP is not a good measure, you are maximizing the wrong thing sometimes at the expense of others and it can be counterproductive, says Nobel Laureate Economist Joseph Stiglitz, who was tapped in early 2008 to head a new French study on the measurement of well-being24 Stiglitz s study is expected to propose a more holistic measure of well-being Several alternative measures like the Genuine Progress Indicator, the Human Development Index, Environmental Performance Index, Genuine Savings, and Ecological Footprint already exist These measures attempt to correct GDP through different methods, adjusting for climate change, economically unproductive activities (such as costs associated with crime), inequality, and pressure on resources While the economic community has long recognized the inherent imperfections of GDP, these alternatives have been criticized for lacking the clarity and conciseness of GDP Take the Genuine Progress Indicator (GPI), an ambitious yardstick created by the thinktank Rede ning Progress, for example: GPI attempts to distinguish between good and bad GDP growth Under GDP for example, resource depletion contributes to GDP, but GPI de ates GDP by amortizing such depletion as a cost GPI starts with.



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7521 Classical Lower Bound for the Partition Function First let us recall the Peierls Bogoliubov inequality:

0.88980 i 0.00004 0.88331 i 0.00004 (1.2972 0.0007) 10

(788)

which holds for any unit norm state and any self-adjoint operator A in a nitedimensional space This inequality is derived from the spectral decomposition of A The following inequality obeyed by the partition function results: Z Qt = 1 (4 )N





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the same consumption data as GDP, but then adjusts for income distribution, and adds factors such as the value of household and volunteer work and higher education, while subtracting factors such as the costs of crime, pollution, and defense expenditures The GPI is adjusted for nonmonetary factors such as income inequality, dependence on foreign assets, leisure time, the lifespan of consumer durables, and capital investments While GDP itself is subject to interpretation and estimation, GPI requires a staggering number of calculations Consider that the costs associated with crime alone include aggregating and deleting legal fees, medical expenses, and property damage 25 While GPI and other indicators have their own set of methodological challenges, they could complement traditional GDP to create a more accurate picture of progress While GDP s simplicity may be attractive, it fails to mirror an increasingly complex world The GPI s approach of amalgamating several indicators creates a single benchmark in monetized terms, which is useful for at-a-glance comparisons, but does not avoid the problems of exchange rates mentioned earlier Nor does it serve as a single indicator speci c enough to help with policy making But disaggregating GPI and looking at its components individually does provide useful snapshots on quality of life trends Therefore, using several indicators in combination could create a more holistic barometer of well-being without sacri cing accuracy There are plenty of alternative GDP measures (as Table 91 shows), but in order for them to be taken seriously they must try to maintain high standards of accuracy and international comparability as well as guard against manipulation and accurately re ect economic activity as well as health, inequality, well-being, and environmental impact

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r H( N )

Pb (E) =

(789)

r where H( N ) = r N |H| N Now, if the quantum Hamiltonian H is linear in the r components of each of the spin operators Ji (this case is said to be normal), then r the lower symbol H( N ) is readily obtained from the expression of H by replacing each Ji by j i i So, r Z Qt v Z Cl ( j 1 , j 2 , , j N ) (790)

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