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Economy and Finance

Global Happiness Index

04 Jan 2024 Zinkpot 364
Global Happiness Index
  1. The Global Happiness Index, officially known as the World Happiness Report, is an annual publication that ranks countries based on various factors related to happiness and well-being. 
  2. The report is a project of the United Nations Sustainable Development Solutions Network and is published by the Earth Institute at Columbia University. It was first introduced in 2012 and has been released annually since then.
  3. The World Happiness Report assesses countries based on several key indicators, including:
    • Gross Domestic Product (GDP) per capita: The income of individuals within a country.
    • Social support: The presence of a social support system, including family and friends.
    • Healthy life expectancy: The average number of years a person can expect to live in good health.
    • Freedom to make life choices: The degree of personal freedom and autonomy individuals have in making life decisions.
    • Generosity: The level of generosity within a society, often measured by charitable donations.
    • Corruption levels: The perceived level of corruption in a country.
    • Positive affect and negative affect: The balance between positive and negative emotions experienced by individuals.
  4. The World Happiness Report serves several benefits, including:
    • Measuring happiness differences across countries: The report provides a comprehensive survey instrument that assesses happiness, well-being, and aspects of sustainability and resilience. It measures and ranks the happiness of individuals in different countries around the globe, providing insights into the factors that contribute to happiness and well-being.
    • Providing insights for policymakers: The report provides valuable insights for governments and policymakers to develop policies that enhance the quality of life and promote happiness for all beings. It serves as an important tool for monitoring changing trends in happiness and well-being and provides evidence-based recommendations for policy interventions.
    • Raising awareness about the importance of happiness: The report raises awareness about the importance of happiness and well-being as criteria for government policy. It highlights the need for more attention to happiness and well-being in policy-making and encourages national governments to give more importance to happiness and well-being in determining policy priorities.
    • Encouraging research on happiness and well-being: The report encourages research on happiness and well-being, providing a platform for researchers to share their findings and insights. It promotes the science of well-being and uses quantitative methods to understand how different life experiences influence people's happiness.
  5. It's important to note that while the Global Happiness Index is a valuable tool for assessing and comparing well-being across nations, it is not without criticism. 
  6. It has been criticized for its reliance on subjective self-reporting, which may overlook cultural differences and elide the complexities of happiness. Some argue that the rankings are influenced by a Western-centric perspective and focus on material factors, such as GDP per capita, which may not fully capture the essence of happiness and well-being. 
  7. Additionally, the index has been questioned for its lack of attention to inequality within countries and its potential to oversimplify the concept of happiness. Despite these criticisms, the report provides valuable insights for policymakers and encourages research on happiness and well-being.
  8. India is currently positioned at 126th place out of 146 countries with a Happiness score of 4.036, according to the World Happiness Report of 2023, classifying it as one of the world's least joyful nations. India’s rank in the happiness index is lower than its neighboring countries like Nepal, Bangladesh, and China.
  9. While Finland, Denmark, and Iceland top the chart of the happiest countries in the world, countries like Congo, Zimbabwe, Sierra Leone, Lebanon, and Afghanistan rank at the bottom of the World Happiness Report.

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