Wednesday 17 August 2011

What's the richest country in the world?

Ireland, because it's capital is always Dublin.

Aye thang yewe. Take my wife... please.

etc.

What prompted this was a post on a discussion board about tax. This included a table showing what proportion of each nation's GDP was provided by taxation. I wondered if there was a connection between this and quality of life. Loosely there is, albeit with exceptions.

And there, at least in 2005,  was the Irish republic, sitting proudly at the top of the pile. I wonder if it still does?

Rank↓ Country or territory↓ Quality of Life Score
(out of 10)↓
1  Ireland 8.333
2  Switzerland 8.068
3  Norway 8.051
4  Luxembourg 8.015
5  Sweden 7.937
6  Australia 7.925
7  Iceland 7.911
8  Italy 7.810
9  Denmark 7.797
10  Spain 7.727
11  Singapore 7.719
12  Finland 7.618
13  United States 7.615
14  Canada 7.599
15  New Zealand 7.436
16  Netherlands 7.433
17  Japan 7.392
18  Hong Kong 7.347
19  Portugal 7.307
20  Austria 7.268
21  Taiwan 7.259
22  Greece 7.163
23  Cyprus 7.097
24  Belgium 7.095
25  France 7.084
26  Germany 7.048
27  Slovenia 6.986
28  Malta 6.934
29  United Kingdom 6.917
30  South Korea 6.877
31  Chile 6.789
32  Mexico 6.766
33  Barbados 6.702
34  Czech Republic 6.629
35  Costa Rica 6.624
36  Malaysia 6.608
37  Hungary 6.534
38  Israel 6.488
39  Brazil 6.470
40  Argentina 6.469
41  Qatar 6.462
42  Thailand 6.436
43  Sri Lanka 6.417
44  Philippines 6.403
45  Slovakia 6.381
46  Uruguay 6.368
47  Panama 6.361
48  Poland 6.309
49  Croatia 6.301
50  Turkey 6.286
51  Trinidad and Tobago 6.278
52  Ecuador 6.272
53  Peru 6.216
54  Colombia 6.176
55  Kuwait 6.171
56  El Salvador 6.164
57  Bulgaria 6.162
58  Romania 6.105
59  Venezuela 6.089
60  China 6.083
61  Vietnam 6.080
62  Bahrain 6.035
63  Lithuania 6.033
64  Jamaica 6.022
65  Morocco 6.018
66  Latvia 6.008
67  Oman 5.916
68  Estonia 5.905
69  United Arab Emirates 5.899
70  Libya 5.849
71  Indonesia 5.814
72  Saudi Arabia 5.767
73  India 5.759
74  Paraguay 5.756
75  Jordan 5.675
76  Nicaragua 5.663
77  Bangladesh 5.646
78  Albania 5.634
79  Dominican Republic 5.630
80  Egypt 5.605
81  Algeria 5.571
82  Bolivia 5.492
83  Tunisia 5.472
84  Serbia 5.428
85  Armenia 5.422
86  Azerbaijan 5.377
87  Georgia 5.365
88  Iran 5.343
89  Macedonia 5.337
90  Guatemala 5.321
91  Honduras 5.250
92  South Africa 5.245
93  Pakistan 5.229
94  Bosnia and Herzegovina 5.218
95  Ghana 5.174
96  Kazakhstan 5.082
97  Syria 5.052
98  Ukraine 5.032
99  Moldova 5.009
100  Belarus 4.978
101  Uganda 4.879
102  Turkmenistan 4.870
103  Kyrgyzstan 4.846
104  Botswana 4.810
105  Russia 4.796
106  Uzbekistan 4.767
107  Tajikistan 4.754
108  Nigeria 4.505
109  Tanzania 4.495
110  Haiti 4.090
111  Zimbabwe 3.892

3 comments:

Pete said...

I strongly believe, and I would provide a bevvy of economists to back me up but I don't know any, that you have your cause and effect the wrong way round. As a socialist, I believe, you are wishful thinking that high levels of taxation and therefore public expenditure create a higher per capita GDP. However I think the higher per capita GDP leads to both demands from the populace and opportunities for the politicians to flatten out the wealth graph and make society more equitable. i.e. A thriving and affluent economy yields more taxation opportunities and greater opportunities to further public expenditure. I wish I hadn't typed this.

Paul said...

I didn't state the order of cause and effect. I did not say one caused the other or vice versa. I said that there appeared to be a loose connection.

What I should have done is included a link to the wikipedia page, and the criteria used to define what "quality of life" is.

Here's the link http://en.wikipedia.org/wiki/Quality-of-life_index

And here's the criteria.

Methodology

The survey uses nine quality of life factors to determine a nation's score.[1] They are listed below including the indicators used to represent these factors:

Health: Life expectancy at birth (in years). Source: US Census Bureau
Family life: Divorce rate (per 1,000 population), converted into index of 1 (lowest divorce rates) to 5 (highest). Sources: UN; Euromonitor
Community life: Variable taking value 1 if country has either high rate of church attendance or trade-union membership; zero otherwise. Source: World Values Survey
Material well being: GDP per person, at PPP in $. Source: Economist Intelligence Unit
Political stability and security: Political stability and security ratings. Source: Economist Intelligence Unit
Climate and geography: Latitude, to distinguish between warmer and colder climates. Source: CIA World Factbook
Job security: Unemployment rate (%.) Source: Economist Intelligence Unit
Political freedom: Average of indexes of political and civil liberties. Scale of 1 (completely free) to 7 (unfree). Source: Freedom House
Gender equality: Measured using ratio of average male and female earnings. Source: UNDP Human Development Report

Jim Bliss said...

I vaguely recall reading an article about a more recent study earlier this year. I can't find any hard data but I seem to remember that Ireland has indeed dropped from first place, but not as far as might be expected given the upheaval of the past couple of years.

The drop isn't surprising... just on Job Security alone, we've taken a real hit lately, and that feeds into other aspects of life. But we do still have a functioning and - relatively speaking, decent - welfare state (not going to predict for how much longer) which has provided a safety net of sorts for most of the recently unemployed.

Aside from that, the much-discussed "austerity measures" have yet to really bite into front line services (such as health and education) though there's no doubt that they will before too long, so I'd expect to see a further drop in Ireland's Quality of Life index over the next few years.

That said, I imagine it'll be mirrored in most other nations, so we may retain something close to our position in the "league table" for what it's worth.

Overall, I still think Ireland is one of the better placed nations to weather the coming economic and environmental storms (globally, we're only just experiencing the initial squalls at the moment) thanks to our population density Vs carrying capacity. I do worry about our collective ability to capitalise on this advantage though... our decisions haven't exactly been great recently.