Human Development Index
Thirty-four countries have joined the "highly developed" club in the past 25 years, report says.
Canada has climbed back into the top 10 among the UN’s Human Development Index. The latest edition of the annual ranking
Income inequality decreases human development in almost all types of countries identified in terms of human development index. Countries that are rated as having very high human development index (HDI) are usually countries that have high per capita incomes. An increase in income inequality in these countries may lead to a decrease in HDI.
This week, Canada learned that it has dropped out of the top ten and into 11th place in the United Nations' annual Human Development Index (HDI). The change has raised calls for the government to focus on education and income inequality in its upcoming budget, rather than concentrating on deficit reduction. The HDI is useful when looked at as a broad-strokes measure of where countries on stand health, education and income. But given the limitations of the metrics, sweating the smaller differences in rankings is pretty silly. For the sake of Canada's economy, I'm hoping Jim Flaherty thinks so too.