'Quality of life index is a composite criterion consisting of certain selected social indicators to measure the standard of living (welfare) of the people'. National income and per capita income as the indicators of development have many limitations.
How is the Better Life Index for men and women calculated? The BLI for men and women is calculated with the same methodology than the baseline BLI, that refers to country average values. The BLI for men and women include the same 24 indicators than the country average BLI.
Surveys, in particular, are used to measure life satisfaction and happiness. Life satisfaction measures how people evaluate their life as a whole rather than their current feelings. When asked to rate their general satisfaction with life on a scale from 0 to 10, people on average across the OECD gave it a 6.5.
The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation with 37 member countries, founded in 1961 to stimulate economic progress and world trade.