The London-based Think Tank Legatum Institute recently offered empirical evidence of what many Americans have been thinking lately. Our national well-being is slipping.
Over the past four years, prosperity has increased around the globe, while it has remained stagnant in the United States, the Legatum Institute reports. As a result, the Institute ranked the United States 12th out of 142 countries on its 2012 Prosperity Index, putting the country outside the top ten for the first time.
Returning us to prosperity is central to the agenda of our newly elected and reelected leaders. But doing so requires an understanding of the causes behind our stagnant wellbeing. The Legatum Institute finds that a decline in entrepreneurship and economic opportunity, rather than slippage in education, health, safety or personal freedom, is to blame.
In particular, the authors say that the fall in prosperity:
“. . .is driven by a decline in the number of US citizens who believe that hard work will get them ahead.”