Germans are benefiting more from their economic rebound than Americans are from the US recovery thanks to greater investment in education and infrastructure.
In China, rapid economic growth is being hindered by pollution and other factors and translating only slowly into broader economic “wellbeing” while in India, Asia’s new growth champion, progress has been even slower.
These are some of the key findings of the latest attempt by the Boston Consulting Group to compile a broad measure of economic “wellbeing” that goes beyond the usual metrics of gross domestic product, inflation and unemployment used by policy makers. To do so the BCG index takes into account investment in health, education and infrastructure as well as more unusual measures such as the volatility of GDP growth and inequality.