Different countries have dramatically different levels of economic development. One common measure of economic development is a country's gross national income per head of population (GNI). To account for cost of living differences between countries, GNI can be adjusted by purchasing power. A purchasing power parity (PPP) adjustment allows for a more direct comparison of living standards in different countries. A drawback of both GNI and PPP data is that they provide only a static picture of development.

Nobel Prize winning economist Amartya Sen has argued that development should be assessed less by material output and more by the capabilities and opportunities that people enjoy. Sen's ideas have been picked up by the United Nations and are reflected in the Human Development Index (a United Nations developed index based on life expectancy, education attainment, and whether average incomes are sufficient to meet the basic needs of life in a country). The index was developed to gauge a country's economic development and likely future growth rate.

Please evaluate countries by GNI per capita (GNI per person) and human development and social progress indexes using the links below. Can GNI be an indicator by itself for economic well being?

Read the HBR article, how policy makers can use different indicators (Human Development Index, Social Progress Index) in addition to GNI to improve economic and social development?

https://hbr.org/2016/08/why-americans-are-so-angry-despite-americas-strong-economy?fbclid=IwAR2nZ7Kvi24zJ9Q3-WaLAjLT88OSS5hN4DuHooroCQiv4B6wSC8kjoCqI-0