THE WEALTH OF NATIONS REVISITED - INCOME AND QUALITY-OF-LIFE

Does economic prosperity enhance the quality of human life? Across 101 nations, 32 indices were analyzed that reflect a representative sampl e of universal human values (e.g., happiness, social order, and social justice). Wealth correlated significantly with 26 of the 32 indices, indicating a higher QOL in wealthier nations. Only suicide and CO2 emi ssions were worse in wealthier societies. Basic physical needs were me t early in economic development, whereas advanced scientific work occu rred only when basic physical needs were fulfilled for almost all peop le in the society. Limitations of the conclusions are discussed.