What is Prosperity?
Perhaps it could best be defined by the emoticon " :-) " because Prosperity means many things to different people. Although, generally speaking, or as Webster's Dictionary defines it, Prosperity is "the condition of being successful or thriving; especially economic well-being.
Some believe that economic growth can hinder Prosperity due to it's effect on the environment or health of its citizens due to pollution or excessive work hours. The Legatum Prosperity Index is the world's only global assessment of wealth and wellbeing. Their Prosperity Index is based upon 'the very foundations of Prosperity - those factors that help drive economic growth and produce happy citizens over the long term'. They base their rankings on nine sub-indexes:
1. Economic Fundamentals
A growing, sound economy that provides opportunities for wealth
2. Entrepreneurship & Innovation
An environment friendly to new enterprises and the commercialization
of new ideas.
3. Democratic Institutions
Transparent and accountable governing institutions that promote
An accessible, high-quality educational system that fosters human
The physical wellbeing of the populace.
6. Safety & Security
A safe environment in which people can pursue opportunity.
An honest and effective government that preserves order and
encourages productive citizenship.
8. Personal Freedom
The degree to which individuals can choose the course of their lives.
9. Social Capital
Trustworthiness in relationships and strong communities.
When examining these nine sub-indexes, The Innovation Machine will have the most effect on Economic Fundamentals, Entrepreneurship & Innovation, and Education, Although, the increase in innovative products that our clients will ultimately produce can also effect Health, Safety & Security, and Personal Freedom.
We therefore believe or organization's positive impact on Prosperity is directly proportional to the number of companies we help. This supports our last mission -
10. Remaining profitable as an organization to enable further investment and growth.