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The UN's HDI (Human Development Index) is an alternative (to GDP per capita) measure of standard of living and it is calculated as a geometric
The UN's HDI (Human Development Index) is an alternative (to GDP per capita) measure of standard of living and it is calculated as a geometric mean of three indices that measure (a) \"material wellbeing\" (essentially income per capita). (b) education, and (c) life expectancy. The technical details of a geometric mean may be conasing, but here's the important characteristic of HDI it treats each of the three measures as equally important (they each contribute to the HDI value in the same way, i.e., they are not weighted by their importance). Based on this information (you may look up more details elsewhere if you want to), discuss advantages and disadvantages of using HDI rather than per-capita GDP to assess a country's living standards
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