The United States drops out of the top ten in prosperity for the first time

The Legatum Institute released its prosperity index for 2012 and for the first time the United States is not in the top ten. The index evaluates countries in eight categories: economy, education, entrepreneurship & opportunity, governance, health, personal freedom, safety & security, and social capital.

I’ll let them explain:

The United States rankings fell in five of the eight sub-categories leading to the 12th place ranking.

To see the world map and how the United States compares click here . To see the profile for the United States and a breakdown of each sub-category click here.

There are many things to be scared about when looking at this data, starting with the fact that Canada out ranks the United states in six out of the eight categories. The two categories America outperforms Canada are: entrepreneurship & opportunity, and health. Canada ranks number one in personal freedom, while America “the land of the free” ranks fourteenth.

I found the whole report disturbing but the most disturbing statement is the author’s conclusion that America’s fall in prosperity is:

driven by a decline in the number of US citizens who believe that hard work will get them ahead, a decline in high-tech and telecommunication exports, and an increase in levels of unemployment. Furthermore, US citizens’ overall satisfaction with living standards has declined since last year

I wish I had some words of wisdom to wrap this up with, instead I think I’ll go drink some eggnog.

Hey, tis the season to be jolly, right?

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