Blogs » J.Q. Tomanek of Victoria » 5 variables and a country's well-being

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If I had to choose a business school for a PhD, I would travel to Spain to study at IESE (Instituto de Estudios Superiores de la Empresa) Business School of the University of Navarre. Of course I would have to get another masters in research methods because it is required regardless if you have a masters. I cannot say I would be so excited for a masters in research, but it is still something fun to study. The hardest part would be figuring out which area to concentrate on because it offers many interesting areas.

IESE Insight blog, Harvard Business Review blog, and MIT Sloan Management Review are the only universities I follow through a feed or app. They continuously offer good articles. Recently, I found an interesting article that was based on research concerning subjective well-being, it’s variables, if a country makes a difference to well-being.

The authors of the study found five variables that are related to the well-being of the people of a country. The first variable is life expectancy. If the life expectancy is longer, it appears people are more satisfied.

Secondly, birth rates are also related to a country’s well being. More babies relate to greater well-being. Don’t tell Levitt this. I find this makes pretty good sense. If you are co-creating babies and then raising the children, this means your time is spent more with the family. If time is spent with the family, it is not being spent engaging in wrong-doing.

Thirdly, religion. A country with a shared religious belief tended to have higher levels of well-being.

Corruption made the list at number four. This variable also had a high correlation. The greater the corruption related to the less satisfaction of the people in the country.

Lastly, latitude contributed to a country’s well-being. No, not “freedom from narrow restrictions” rather it is the location of country on the globe. The closer a country rests near the equator is connected with the overall well-being of its citizens.

The article also mentions countries with higher and lower well-being and makes recommendations to increase the well-being. Picking a country up and moving it closer to the equator or towing it with big chains didn’t make the list.

What characteristics do you think would also make the list?