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The 2012 Legatum Prosperity Index

7 years 6 months ago - 7 years 6 months ago #124 by dorina

Education is a building block for prosperous societies. The Education sub-index measures countries’ performance in three areas: access to education, quality of education, and human capital. As illustrated in the chart on the right, the variables in the sub-index are categorised according to these areas.

The Education sub-index illustrates how access to education, as measured by enrolment rates, allows citizens to develop their potential and contribute productively to their society. In addition, it shows that human capital stock, measured by the average levels of education in the workforce, encourages research and development, and adds knowledge to society. Citizens’ perceptions of the educational opportunities available to them are also key to assessing the quality of education in a given country.

This sub-index is inspired by research on economic growth that has found human capital to be an engine for growth, making a case for the non-diminishing effect of education on rising GDP levels. Academic research also shows that basic education enhances peoples’ opportunities to increase life satisfaction.

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