The main metrics in the modern economy are based on money profit accounting and related economic statistics like Gross Domestic Product (GDP). This are inappropriate measures and need to be changed.
Many initiatives have emerged to expand reporting to include metrics beyond profit ... like impact on people and planet, the so called triple bottom line. These initiatives are a good start, but are not getting the traction that is needed.
A somewhat different initiative is needed that incorporates both money profit accounting and accounting for social valuadd into a single framework of accounting and reporting that relates state, progress and performance in an integrated fashion.
The system should be the same for both the organization undertaking an economic activity and the broader community that gets impact from economic activity. The consolidation or roll up of the progress and performance of an economic activity should roll up to both an organization and to a place.
The system should be based on concepts of accounting more than those of economics and statistics. Specifically the idea in accounting of double entry and the formal integration of balance sheet and operating statement.
TrueValueMetrics also makes it possible to bring accountability to organizations that do not want to engage with the so-called externalities of their activities.