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Legatum Prosperity Index

Legatum Prosperity Index is a science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Legatum Prosperity Index rather than just read about it. In short: The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute, an independent educational charity founded and part-funded by the private investment firm Legatum. The purpose of the Prosperity Index is to measure national prosperity.

Legatum Prosperity Index — main illustration
Legatum Prosperity Index — illustration

Key takeaways

  • Legatum Prosperity Index belongs to science; place it in that map before memorising details.
  • Learn the definition first, then one example that makes the definition concrete.
  • Connect Legatum Prosperity Index to a quantity you can measure, compute or draw — that is where exam questions come from.
  • Reproduce the core statement of Legatum Prosperity Index from memory before moving on to harder problems.

Reference excerpt

The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute, an independent educational charity founded and part-funded by the private investment firm Legatum. The purpose of the Prosperity Index is to measure national prosperity. It considers both material wealth (traditional economic indicators) and social well-being factors. The ranking is based on a variety of factors including wealth per capita, economic growth, education, health, personal well-being, and quality of life. As of the 2023 rankings, 167 countries and territories were ranked, and Denmark topped the list, followed by its Nordic neighbours Sweden, Norway and Finland. South Sudan was in last place at 167th.

Methodology The 2018 Legatum Prosperity Index is based on 104 different variables analysed across 149 nations around the world. Source data includes Gallup World Poll, World Development Indicators, International Telecommunication Union, Fragile States Index, Worldwide Governance Indicators, Freedom House, World Health Organization, World Values Survey, Amnesty International, and Centre for Systemic Peace. The 104 variables are grouped into 9 sub-indexes, which are averaged using equal weights. The 9 sub-indexes are:

Economic Quality Business Environment Governance Education Health Safety & Security Personal Freedom Social Capital Natural Environment For example, Personal Freedom includes freedom of speech and religion, national tolerance for immigrants, and ethnic and racial minorities. The Social Capital sub-index includes the percentage of citizens who volunteer, give to charity, help strangers, and who feel they can rely on family and friends. Oxford Analytica assisted in the early development of the Prosperity Index and has contributed to shaping the methodology. Today, the annual Index is produced and published by the Legatum Institute. The Legatum Institute operates a transparent approach to its work on the Prosperity Index. To that end, the entire methodology of the Prosperity Index along with the data used to create it is available for free online at the institute's website.

Rankings and scores by country

2023

2021

2020

2019

Legatum Institute The Legatum Institute publishes the index.

Personnel The Director of the Prosperity Index is Dr. Stephen Brien. The Prosperity Index is reviewed and critiqued by an advisory panel of academics and scholars representing a range of disciplines and includes: Prof Tim Besley (London School of Economics); Dr. Daniel Drezner (Tufts University); Dr. Carol Graham (Brookings Institution); Dr. Edmund Malesky (University of California, San Diego); Dr. Ann Owen (Hamilton College). The Legatum Institute's International Advisory Group also contributes and assists in the Prosperity Index: Prof Peter Skerry (Boston College); Prof Dan Chirot (University of Washington); Toby Mundy CEO (Atlantic Books); and Patrick Cheung.

See also

References

External links Official website

Illustrations

Legatum Prosperity Index: Countries according to their score (L) in the 2023 Legatum Prosperity Index: .mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column} .mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}  L ≥ 80   75 ≤ L < 80   65 ≤ L < 75   55 ≤ L < 65   50 ≤ L < 55   45 ≤ L < 50   40 ≤ L < 45   35 ≤ L < 40   30 ≤ L < 35   Data unavailable
Countries according to their score (L) in the 2023 Legatum Prosperity Index: .mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column} .mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}  L ≥ 80   75 ≤ L < 80   65 ≤ L < 75   55 ≤ L < 65   50 ≤ L < 55   45 ≤ L < 50   40 ≤ L < 45   35 ≤ L < 40   30 ≤ L < 35   Data unavailable

Worked examples

Example 1 — a first encounter with Legatum Prosperity Index

Start with the simplest possible case. Write down what Legatum Prosperity Index claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Legatum Prosperity Index before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Legatum Prosperity Index ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Legatum Prosperity Index

In research
Legatum Prosperity Index appears in science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry
Engineering practice reuses Legatum Prosperity Index in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom
Legatum Prosperity Index is common in secondary-school and first-year university syllabi. It links to neighbouring topics International development, International quality of life rankings, Social science indices, so understanding it makes those chapters shorter.
In everyday life
Look for Legatum Prosperity Index outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.
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How to study Legatum Prosperity Index in 20 minutes

  1. Read the reference excerpt below once, without taking notes.
  2. Close the page and write down what Legatum Prosperity Index means in your own words.
  3. Compare your version with the excerpt and mark what you missed.
  4. Work through the three examples above with pen and paper.
  5. Explain Legatum Prosperity Index out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Legatum Prosperity Index in simple terms?

The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute, an independent educational charity founded and part-funded by the private investment firm Legatum. The purpose of the Prosperity Index is to measure national prosperity.

Why does Legatum Prosperity Index matter?

Because it connects several science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Legatum Prosperity Index?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Legatum Prosperity Index.

Tags

  • International development
  • International quality of life rankings
  • Social science indices

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