While global prosperity increased during the past four years, the U.S.’s prosperity level has plummeted, according to a recently released prosperity index put out by the Legatum Institute.
Normally a stalwart among the top 10 most prosperous nations, the U.S. slid to No. 12, while Norway, Denmark, and Sweden were announced as the top three most-prosperous nations.
According to the research group's report, the ideal of the American Dream may very well be in flux.
“As the U.S. struggles to reclaim the building blocks of the American Dream, now is a good time to consider who is best placed to lead the country back to prosperity and compete with the more agile countries,” Jeffrey Gedmin, the Legatum Institute’s president and chief executive officer, said in a statement, according to Bloomberg.
Economically, the report finds that the U.S. is below 19 of its rivals, while its citizens’ respect for government has fallen, its high-technology isn’t being exported, and its startup costs are surging.
The six-year-old Legatum Institute is the public policy branch of the Legatum group—a Dubai-based private investment firm founded by Kiwi billionaire Christopher Chandler.
The Institute derives its index by analyzing eight categories: economy, education, entrepreneurship and opportunity, governance, health, personal freedom, safety and security, and social capital.