Member News
26th October 2010
ePolitix.com speaks to Jiehae Choi, researcher at the Legatum Institute, in the first of a week-long series of interviews to mark the release of the 2010 Prosperity Index
The 2010 Prosperity Index, published by non-partisan think-tank the Legatum Institute, measures prosperity through two dimensions: levels of wellbeing and levels of income.
Jiehae Choi, who manages the production of the index, says when it comes to living a prosperous life, people look not just at income but their overall level of satisfaction. Politicians ask how they can improve these two factors to "better serve their society and improve the conditions in a country".
"We have devised eight foundations that we believe countries need in order for them to be prosperous," she says.
These eight categories are as follows: economy; entrepreneurship and opportunity; governance; education; health; safety and security; personal freedom; and social capital.
Breaking down the categories’ further details, Jiehae looks at what a country needs in order to be defined as prosperous:
- A stable and growing economy with an entrepreneurial climate in which healthy and educated people are given opportunities to prosper.
- An accountable and effective government that fosters transparent political participation among its citizens
- The ability to provide people with a safe and secure environment; this includes both personal safety and national security.
- Personal freedom in a society with limited societal intolerance, in which people feel free to choose the course for their own lives, believe in things and associate with people according to their own choices.
- Finally, social capital: a society with high levels of social trust and personal and social networks that people feel they are able to rely on in times of need, enabling them to live more fulfilling lives.
In total the index covers 110 countries. Although there are some 200 countries in the world, according to Jiehae, "insufficient data" limits the index to 110.
"The 110 countries include cover 93 per cent of the world population and 97 per cent of the world's GDP. We would have loved to include Iraq in the index, for example, but there was limited data available and we wouldn't have been able to cover it accurately," she says.
You can view the 2010 index here.
Tomorrow we will look at why the Nordic countries continue to reign supreme at the top of the index.
Dods Parliamentary Communications Ltd
Dowlet
26th Oct 2010 at 6:05 pm