World’s Most Prosperous Country 2012 Is..
The United States no longer makes the list of the 10 most prosperous countries in the world, according toÂ a new studyÂ by the Legatum Institute.
The Legatum Prosperity Index found that while prosperity increased globally, the U.S. fell to 12th place in its rankings. With less than a week to go before the U.S. presidential election,Â the report writes:
As the race for the White House reaches fever pitch, the latest findings from the Legatum Instituteâ€™s Prosperity Index reveal that the American Dream is in jeopardy. In an unprecedented fall, America drops to twelfth position in the worldwide prosperity rankings â€“ with weakening performance across five of the Indexâ€™s eight sub-categories.
The Legatum Institute published its first Prosperity Index six years ago, ranking countries based on material wealth and personal well-being. The 2012 index analyzed142 countries in eight categories: economy, education, entrepreneurship & opportunity, governance, health, personal freedom, safety & security and social capital.
According to the study, overallÂ prosperity in Europe has increasedÂ despite the economic crisis, though several European countries have seen their scores drop in categories analyzing economic development.
This study comes on the tails of the U.N.’s list of theÂ most prosperous citiesÂ in the world — with more than half of them located in Europe.
Bloomberg notesÂ that the Legatum Institute is part of the Legatum Group, a Dubai-based private investment company founded by New Zealand billionaire Christopher Chandler.
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