Economics Hdi Questions Medium
The Human Development Index (HDI) measures social progress by taking into account three key dimensions of human development: a long and healthy life, access to knowledge, and a decent standard of living.
Firstly, the HDI considers life expectancy at birth as an indicator of a long and healthy life. It reflects the overall health and well-being of individuals in a country, indicating the availability and quality of healthcare services, nutrition, and living conditions. Higher life expectancy suggests better social progress in terms of improved healthcare systems and overall well-being.
Secondly, the HDI incorporates education as a measure of access to knowledge. It considers two indicators: mean years of schooling and expected years of schooling. Mean years of schooling represent the average number of years of education received by individuals aged 25 and above, indicating the level of educational attainment in a country. Expected years of schooling, on the other hand, represent the number of years a child is expected to receive education, reflecting the opportunities for future generations. Higher levels of education indicate better access to knowledge and opportunities for personal and societal development.
Lastly, the HDI includes gross national income (GNI) per capita as an indicator of a decent standard of living. GNI per capita reflects the average income of individuals in a country, indicating their purchasing power and access to basic necessities and resources. Higher GNI per capita suggests a higher standard of living and better social progress in terms of economic well-being.
By combining these three dimensions, the HDI provides a comprehensive measure of social progress, capturing not only economic factors but also health and education indicators. It allows for comparisons between countries and over time, highlighting disparities and progress in human development.