Evaluating Prosperity in Greater Seattle

By Ted Schneider, Partner at Camber Collective

The recent release of the Scorecard for Shared Prosperity, a new framework developed by Civic Commons to evaluate the Greater Seattle region’s economic well-being, ushers in a new way to consider what it means for a region to be prosperous. Traditional measures of prosperity are based solely on economic growth, with Seattle often at the top of lists that celebrate GDP and wealth creation. While our economy has created benefits for many people, driven primarily by a record stock market and increasing housing prices, a significant portion of people have been excluded from participation in this growth.

While economic growth alone is insufficient to evaluate regional prosperity, the Scorecard for Shared Prosperity appropriately recognizes that our region’s economic growth is a critical ingredient for all of us to do better. However, growth that further enriches the wealthiest while excluding those on the margins is unsustainable and undemocratic. Growth that serves to enrich all individuals, households and communities is necessary and critical and serves as the basis for shared prosperity.

Continue reading the rest of Ted’s article on LinkedIn and learn more about the Scorecard here.