This article will take you through some of the alternative measures of progress that have been put forward by various organisations. They are part of the turning tide against GDP-centric ideas of success.
The Happy Planet Index
Developed by the New Economics Foundation, the Happy Planet Index measures levels of sustainability and prosperity, ranking each country based on their ecological footprint, the wellbeing of their people, and the life expectancy of their people. It was created to show that countries can deliver good lives for people without costing the planet.
The Legatum Prosperity Index
Developed by the Legatum Institute, the Prosperity Index measures economic quality, business environment, governance, education, health, safety and security, personal freedom, social capital, and the natural environment. It represents another excellent attempt to measure a broader notion of prosperity. It was created to show which policies can life people out of poverty.
The third alternative measure is the Social Progress Index, created by the Social Progress Imperative. In the next step, Michael Green will explain its relevance and significance.
© UCL Institute for Global Prosperity