Analysis
Scientists assess global well-being
Leading scientists from around the world including Nobel Prize laureate Daniel Kahneman; Alan Krueger; Angus Deaton; Ed Diener; and John Helliwell met on October 4th at Gallup's Washington D.C. headquarters to discuss groundbreaking findings on the state of global well-being. Gallup's measures of global well-being reach beyond traditional indicators such as GDP poverty rates healthcare expenditures literacy levels and life expectancy rates to incorporate subjective self-reported assessments from people in more than 130 countries on virtually all aspects of life.
Gallup researchers find clear correlations between overall well-being and subjective assessments of law and order food and shelter work economics and health as well as socio-economic indicators that go beyond GDP - including measures of military spending brain drain and governance. Together these findings suggest that measures of subjective well-being might help to predict the future of economies and societies as a whole. This behavioural approach to economic forecasting appears to be gaining momentum. In September 2007 former Federal Reserve Chairman Alan Greenspan said in an interview If I could figure out a way to determine whether or not people are more fearful or changing to more euphoric . . . I don't need any of this other stuff. I could forecast the economy better than any way I know.
Gallup systematically gathers these behavioural measures by asking respondents to assess qualitative aspects of their life both overall and during a specific time period. The resulting global Well-Being Index reveals many findings worthy of further investigation and analysis. Income for example appears to play a limited role in defining the emotional state of a country. Gallup found that high-income countries such as Slovenia Greece Portugal Italy Israel Saudi Arabia and Hong Kong each demonstrate levels of Net Affect that are below average. On the other hand low-income countries such as Zambia Vietnam Nepal India Kenya and Laos each display Net Affects that are above the average.
Gallup monitors measures of subjective well-being by continuously polling around the globe taking samples that represent more than 95% of the world's population. By collecting and analyzing these measures Gallup provides world leaders with better tools to examine and predict the future of economies the performance of governments and the momentum of the world's population overall. Gallup plans to release further findings on Gallup.com and on a contract basis.
