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You are expected to be able to explain/analyze (AO2) the alternative ways to measure wellbeing (SL+HL)
GDP and GNI are often used to measure a country's prosperity, but other than showing the value of a country's production, it doesn't really give any insight into how the people have it. This is where other measurements can be used:
- OECD Better Life Index
The Better Life Index is based on material living conditions such as housing and income, and qualities of life such as health, life satisfaction, and safety.
The Better Life Index is only measured for OECD countries (35 of the most developed countries in the world), so it's not a very good universal measurement
2. Happiness Index
2. Happiness Index
The Happiness Index measures how happy a sample of people is in every country. This is measured by asking people how happy they are with factors like emotional well-being, health, work, and business/economy.
A strength is that it reflects the well-being of people rather than just an economic number. However, since the factors are quite subjective, it is hard to measure a value.
3. The Happy Planet Index
3. The Happy Planet Index
The Happy Planet Index, like the two other indexes, measure human well-being but also considers ecological footprints. This means that countries with low footprints tend to come out on top.
Shady countries that are relatively bad to live in rank high just because they have low ecological footprints. For example, Costa Rica, Vanuatu, and Colombia rank as the top 3 this year
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