Authors
Hossien Mohammadi, Mehdi Mahmoudi
Publication date
2018/10/23
Journal
Journal of economics and regional development
Volume
25
Issue
16
Pages
1-20
Publisher
Ferdowsi University of Mashhad Press
Description
1. Introduction Today, one of the main goals of policymakers is to improve the quality of life and increase the level of welfare of the society. One of the main indicators of the progress of countries is its prosperity index. Prosperity is more than just the accumulation of material wealth; it is also the joy of everyday life and the prospect of an even better life in the future. This is true for individuals as well as nations. The prosperity index is a function of various variables over time that has been investigated by researchers and institutes, including the Legatum institute. The Legatum Institute exists to promote policies that create pathways from poverty to prosperity. The journey towards prosperity is therefore not just about what we contribute, but about who we become. 2. Theoretical Framework The Legatum Prosperity Index is a framework that assesses countries on the promotion of their citizens’ flourishing, reflecting both wealth and wellbeing. It captures the richness of a truly prosperous life, moving beyond traditional macroeconomic measurements of a nation’s prosperity, which relies solely on the indicators of wealth such as average income per person (GDP per capita). This makes it an authoritative measure of human progress, offering a unique insight into how prosperity is forming and changing across the world. The Legatum Prosperity Index offers a unique insight into how prosperity is forming and changing across the world. The Index is distinctive in that it is the only global measurement of prosperity based on both income and wellbeing. Traditionally, a nation’s prosperity has been based solely on macroeconomic indicators such as a country’s …
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