Although there are obvious inherit problems with the formula used to calculate the current GDP system, the fact is it has remained prevalent because it reinforces the status quo since its debut in the early 20th century.  A modification of the GDP formula based on environmental or human capital would result in a drastic global paradigm shift that could essentially invert the existing dynamic.  Although the US and EU currently dominate the global community an economic system encompassing environmental capital would have to acknowledge several third world & developing nations as the actual leaders of the global community due to the abundance of natural resources due.  Africa and regions of the middle east would have to account for its amplitude of raw materials, China and India would have to account for its plenitude of human capital and South America would have to account for its vast untapped forests as environmental capital.  Yes, these natural commodities should definitely be accounted for but I am afraid that this could never occur at the expense of Anglo-Saxon world dominance and Western European imperialism. Alas, there is no way for environmental (and human capital) to be accounted for within the economic system without present economic leaders (the 1% and top multinational corporations) capitalizing on it which translates into the potential for global calamity on an unprecedented scale.