The Prosperity of Nations Cont'd

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Yesterday, I posted on the new Prosperity Index that ranked Finland first, Canada seventh, and the United States ninth. Last evening, my colleague Charlotta Mellander took a quick look at some factors that might be associated with a high ranking, running some simple statistical correlations. The most highly correlated factors (all with a correlation coefficient above .75): total factor productivity, human capital, the creative class, GDP per capita, and entrepreneurship. The Prosperity Index was highly correlated with the UN Human Development Index (at nearly .9) and reasonably so with a Gallup's measure of subjective well-being or happiness (just a hair under .75).

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Richard Florida is Senior Editor at The Atlantic and Director of the Martin Prosperity Institute at the University of Toronto. See his most recent writing at The Atlantic Cities. More

Florida is author of The Rise of the Creative Class, Who's Your City?, and The Great Reset. He is founder of the Creative Class Group.

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