In the article, the topic of change in living standards for the past four years is discussed. While there has been significant improvement in standards of living in the past couple of decades, the Human Development Index (HDI) has taken a significant hit within the past couple of years. This is largely due to the “unpredictable” events that have shaken the world, two examples include the pandemic in 2020 and the war between Russia and Ukraine. D
The HDI gauges progress in terms of societal outcomes, such as life expectancy, childbirth, average years of schooling, and gross income per person. The economic measure was established in 1990 and has seen constant annual growth until its first drop in 2020 and 2021. The latest report published on March 13th indicated growth in the previous year. However, the HDI has still not reached the levels that it once was before the pandemic. This is simply because the pandemic has caused a permanent setback.
This setback has further increased the gap between countries with the highest and lowest HDIs. Historically, in the past 20 years, that gap was becoming more narrow as the years progressed.
I understand the multiple setbacks and challenges that the pandemic caused, but in class, we have seen that the implications of it have been very minimal and have rebounded quite quickly in most regards. I am just curious as to what permanent setback is implied here.
ReplyDeleteIt's intriguing to see how the Human Development Index (HDI) has been impacted by recent global events, especially considering its steady growth over the years. The setbacks caused by unpredictable events like the pandemic and conflicts like the Russia-Ukraine war have highlighted the fragility of progress.
ReplyDeleteCan you explain how the Human Development Index (HDI) measures progress in living standards, and why it experienced its first drop in 2020 and 2021 after decades of consistent growth?
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