So how do we measure the quality of our lives? Is it simple like GDP per Capita? Or is it a bit more complex?
Sunday, October 08, 2006
GDP and Quality of Life
So how do we measure the quality of our lives? Is it simple like GDP per Capita? Or is it a bit more complex?
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8 comments:
I find it highly ironic that our country, one of the wealthiest in the world ranks low on the quality of life chart. I think despite our technological advances, education, and comforts, our time schedules and demanding lives may cause our personal utility to be rather low. Britain, another orderly country was even farther down! I guess the Irish made a specatular recovery since the potato famine :P
I think this survey is trying to show that money doesn't necessarily buy happiness. We do have higher GDP per capita than every country above us in the ranking (except Luxembourg, but honestly who cares; the country is about the size of my eye.) But perhaps other nations' abilities to spend much more money domestically than overseas in wars provides their citizens with better healthcare and other services. This would for sure take some grief out of these peoples' lives. The American peoples' distress and disagreements about our current foreign and domestic policies also may possibly contribute to a decreased quality of life. Countries like Ireland and Switzerland don't seem to have to deal with too much disarray on a day to day basis because of Europe's less dynamic nature. This predictability and simplicity that is more apparent in European life is most likely another factor in these countries being "happier."
The fact is that GDP doesnt take into account leisure time so it can't judge one's happiness. It only uses numbers derived from the amount that is produced inside of our country which is not directly realated to the well being and happiness of our citizens. So the GDP is not a good factor in determinig the quality of life in a specific country.
I really liked how this study used such a broad range of factors to measure quality of life, and I think its results are likely to be far more accurate than when using GDP alone. Things like freedom, family life, and politcal stability and security should be counted in any measurement of this kind, not simply the country's economic sucess or failure.
I also found the reasons countries like Britain and France fall lower on the scale interesting. These are definately factors that GDP does not take into account-family and social breakdown and unemployment rates.
I agree that money does not buy happiness. Most people think that Americans have a high "quality of Life" because we are ranked the 2nd richest country in the world, but if you consider all the other factors you will see why we are ranked 13th on the quality of life list. The GDP does not include peoples health, freedom, climate, or family life. All of these factors contribute to the quality of life. If the "life satisfaction" does not improve, we will slowly move lower down the list.
I found this article very interesting. It was amazing to me that Ireland was so economically balanced, having the fourth-highest GDP per head in the world in 2005, low unemployment, political liberties with the preservation of certain elements of the old, and a stable family and community life. And the fact that money only translated into a moderate factor when measuring life satisfaction is crazy! Who knew Ireland was the place to be in 2005?!.. I wish i knew this before!
This article makes a lot of sence; money doesn’t buy happiness so why should we measure leisure of a country by GDP? I agree that factors other then GDP should determine the leisure of a country. It was interesting to see the United States at #13 not because our country is so wealthy, but because so many people come here from different countries you would think they were coming because we have a higher quality of life.
GDP doesnt take into account leisure time so it can't judge one's happiness. It only uses numbers taken from the amount of goods and services that is produced inside of a country which has nothing to do with the wellbieing and happiness of that countries citizens.So GDP is not a great measurment od the quality of life in a country.
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