November 7, 2012

The United States no longer makes the list of the 10 most prosperous countries in the world, according to a new study by the Legatum Institute. The Legatum Prosperity Index found that while prosperity increased globally, the U.S. fell to 12th place in its rankings. The report writes: The American Dream is in jeopardy. In an unprecedented fall, America drops to twelfth position in the worldwide prosperity rankings – with weakening performance across five of the Index’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 analyzed 142 countries in eight categories: economy, education, entrepreneurship & opportunity, governance, health, personal freedom, safety & security, and social capital. According to the study, overall prosperity in Europe has increased 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 the most prosperous cities in the world -- with more than half of them located in Europe. It’s about time all those American exceptionalists stop the continuous bluster about “greatest country in the world.”