Study: US no longer among 10 most prosperous nations
The United States no longer ranks among the world’s 10 most prosperous nations, the latest annual report from a prominent think-tank has found.
The sixth annual Legatum Prosperity Index was released by the Legatum Institute, part of the Legatum Group, a Dubai-based private investment company founded by New Zealand billionaire Christopher Chandler.
The United States fell two places from 10th to 12th on this year’s index. The U.S. scored 20th in economy, 12th in entrepreneurship and opportunity, 10th in governance, 5th in education, 2nd in health, 27th in safety and security, 14th in personal freedom and 10th in social capital.
The index evaluates and ranks 144 nations in eight categories: economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital.
According to the index, the world’s 10 most prosperous nations are: Norway, Denmark, Sweden, Australia, New Zealand, Canada, Finland, the Netherlands, Switzerland and Ireland.
The report found that fewer Americans believe that hard work leads to success. Americans reported less respect for government and much lower than average confidence in financial institutions. The U.S. also reported higher business start-up costs and lower exports of high-tech products.
The report called America’s slip in the rankings “unprecedented” and said that the “American Dream” was in “jeopardy.”
“As the U.S. struggles to reclaim the building blocks of the American Dream, now is a good time to consider who is best placed to lead the country back to prosperity and compete with the more agile countries,” Legatum Institute president Jeffrey Gedmin said in a statement, referring to the November 6 U.S. presidential election. Digital Journal
Two-thirds of Americans are dissatisfied with the way things are going in the country and 30% are satisfied, identical to the satisfaction level measured in September. Gallup
Most Americans blame high unemployment, the federal budget deficit, rising poverty or some other economic issue as the root of their malaise. Others point to evidence of moral decline, health-care woes and a government that they claim is not up to snuff. LA Times
According to a June report by the Organization for Economic Cooperation and Development, the U.S. has among the highest income inequality and relative poverty among the 34 countries that make up the consortium of developed countries.
An October study conducted amongst people of all generations across the U.S., finds that a majority of Americans are unhappy in the workplace – and their bosses are largely to blame. Business Wire
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