GDP Every Capita like a Measure of Well Being

GROSS DOMESTIC PRODUCT Per Household as a Way of measuring well being

The moment countries are compared employing their GDP per capita important factors such as health, education and quality of environment aren't included and therefore the overall well being of the country may not be effectively measured, in order to determine if this statement is correct we should evaluate well being in countries with differing GDP per household results, we will analyze various stats from the United States, Norway plus the Netherlands. Factors such as Well being, Education, Lack of employment, Banks, Jail Statistics and Wellbeing surveys must all be considered in order to determine perhaps the above affirmation is true. Major domestic product (GDP) can be defined as the " total their market value of all last goods and services manufactured in a country in a given season, equal to total consumer, investment and federal government spending, and also value of exports, minus the value of imports. ” GDP every capita however is defined as the approximate estimate of the benefit of goods produced per person near your vicinity, it is determine by separating the country's GDP by the total number of folks in the country (Investor Words, 2011). The GDP per capita statistics based on the CIA Globe Factbook (2011), these figures established this season reveal right after in GROSS DOMESTIC PRODUCT per capita between the countries that will be examined.

GDP every Capita (2011)

Rank| | Country| Value| | Day of Info

6| | Norway | $59, 100| | 2010 est.

10| | В United States| $47, 400| | 2010 est.

18| | В Netherlands| $40, 500| | 2010 est.

(CIA World Factbook, 2011)

You observe that these countries have a huge difference inside their GDP per capita, elements must now be considered in order to determine whether GDP per capita is usually an accurate measure of well being.

In the Gallop Global Wellbeing Study (2009), countries are positioned according to the opinions received from surveys accomplished by their citizens.

Wellbeing Study




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3| Norway| 69| 31| 0| 7. being unfaithful

5| Netherlands| 68| 32| 1| six. 7

14| United States| 57| 40| 3| 7. 3

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Even as can see persons from Norwegian rank 3 rd with none suffering and many of the populace (68%) booming, this is to get expected while the GROSS DOMESTIC PRODUCT per household is more than the other two countries, however , holland comes in fifth place using a similar percentage of the inhabitants thriving (67%) only 1% is suffering. The United States alternatively is ranked down at 14th location with practically half of the populace either Battling (40%) or suffering (3%). These statistics prove that GROSS DOMESTIC PRODUCT per household may have an impact, but it will not guarantee that all of the population is at a good state of wellbeing. The World Well being Organisation rated countries worldwide according to their Health Devices; this was done in 2000 and has not been completed since because of the complexity in the task, at the moment however each of our three countries were rated as follows.

Health System Ranks


Ranking Country


11 Norway


17 Netherlands


37 United States of America

(World Health Business, 2000)

Again Norway rates top, the Netherlands follows plus the United States also comes in last place despite the GDP every capita getting much higher than the Netherlands.

The United Nations Creation Programme unveiled statistics about the Prison Human population and Incarceration Rate (2007) ranked by country, the outcome was as follows.

Prison Population and Incarceration Level...