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Economy

Turning growth into real prosperity: Iceland tops the 2017 Positive Economy Index

By Staff

  • Small but prosperous A key reason for the prosperity of Iceland has been the degree to which altruism and equity govern the economy. Photo/Vísir.

One of the greatest challenges developed nations face today is to turn economic growth and high levels of GDP into the kinds of positive social outcomes that matter to people, and to ensure that the broad population shares in the nation's prosperity. Fortunately Iceland has been remarkably successful at achieving these goals. Iceland consistently ranks in the top among developed nations when it comes to measures of the quality of life.

Read more: Iceland has the second highest quality of life among OECD countries

The 2017 Positive Economy Index, which was one of the topics covered at the Global Positive Forum, which was held in Paris over the weekend, explores one aspect of this question, namely how well economies do when it comes to placing altruism at the heart of its priorities. Ensuring equity between generations, territories and economic actors. 

Turning GDP into positive social outcomes
According to a statement from the Prime Minister of Iceland the fact that Iceland now tops the index is an important testament to the achievement Iceland has made when it comes to working toward positive long-term goals, rather than short-term gains.

According to the website of the Positive Economy Forum the index is composed of 28 different economic, social and cultural, governance and environmental indicators. These measure both traditional economic indicators, such as government debt and investments and environmental and resource use indicators which measure generational equity, as well as social and cultural indicators which capture the degree to which the society and economy fosters equality or inequality.

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