We’ve all heard and used the term “Gross Domestic Product”, but how about “Index of Wellbeing”? This recently introduced index, based out of the University of Waterloo, has introduced a new way to understand Canada’s economic health. Let’s take a look…
Academics from Canada and around the world have complied research to develop the 64 indicators which are tracked by the Canadian Index of Wellbeing, including indicators such as health, living standards and education. The index is intended to be a more comprehensive tool than GDP, tracking a diverse set of factors that affect communities and the Canadian population to ultimately paint a picture of our country’s quality of life.
What are people saying about this new index? Some comment on the fact that the launch of the index coincides quite appropriately with the messages behind the Occupy Wall Street protests, while others highlight the ability of the index to really examine the impact of government policies.
Learn more about the Canadian Index of Wellbeing in the Globe and Mail and by visiting the CIW website.