To cover both economic and social wellbeing, the Prosperity Index faces the challenge of finding a meaningful measure of success at national level. We endeavour to create an Index that is methodologically sound. This is something that the Legatum Institute has sought to achieve with academic and analytical rigour over the past decade..
For the 2019 issue, the Prosperity Index has been improved following a year-long methodological review. We worked with more than 100 academics and experts around the world with particular expertise on each of the 12 pillars of prosperity to develop an appropriate taxonomy of discrete elements and supporting indicators which, when combined, accurately capture prosperity in the world.
The review was carried out partly to ensure the Index was completely policy focussed, to best aid users to bring about the change required to create pathways from poverty to prosperity, and to strengthen the economic pillars.