True (Illusions of) Prosperity

October 13, 2008
US ranks fourth in world prosperity index

"Long-term prosperity for the U.S. overall will continue to derive from the effectiveness and integrity of its political institutions, prudent regulatory and trade policies, the innovation of entrepreneurs, and the freedom of citizens to choose the course of their lives," according to Dr. William Inboden, Senior Vice President of the Legatum Institute.

Oh-oh.

"True prosperity consists of more than money," Dr. Inboden continued. "It also includes happiness, health, and liberty.

If that's the definition of "true prosperity" then let's see how we are doing.

1. Money

U.S. Stocks Fall on Concern Rally Outpaced Recovery Prospects

“We’ve got a pretty sobering outlook and are concerned about the economy on a long-term basis. We think there’s neither the willpower nor the means to fully finance that type of V-shape recovery.”

2. Happiness

Antidepressant Use Increasing In The United States

Between 1996 and 2005, the rate of antidepressant treatment increased from 5.84 percent to 10.12 percent or from an estimated 13.3 million to 27 million individuals.

3. Health

U.S. drops to No. 42 in life expectancy

For decades, the United States has been slipping in international rankings of life expectancy, as other countries improve health care, nutrition and lifestyles.

4. Liberty

Airline customers: Passengers or prisoners?

Of course, passengers could always complain: after all, the First Amendment to the Constitution guarantees freedom of speech, which means that passengers should, in concept, be able to voice their grievances. However, a broad application of the Patriot Act has, effectively, suspended freedom of speech on airplanes. A particularly powerful example of this is the case of Nicola Cantisani, a blind interpreter who was dragged off an airplane in (ironically) Philadelphia, imprisoned without food and water, and denied access to legal representation after he questioned flight personnel about a two hour delay. While Cantisanti's story is an extreme example, the plethora of similar tales suggests that customers who question their treatment do so at their own peril.