We all know that our economy is not what it used to be, but how do we know just how well it's doing? We hear the Jobs Report and watch the stock market, but how accurate and complete are these as measures of prosperity?
We also know that our families are not flourishing the way they once were. But do we know why? And is there a connection between the state of our economy and the state of our families?
For the first time since Dr. William J. Bennett’s landmark research on the Leading Cultural Indicators in the 1990s, we now have a way to use government data to score the economic and social wellbeing of families from year to year and from state to state.
In a dramatic leap forward, economists Wendy J. Warcholik, Ph.D., and J. Scott Moody, M.A., along with several state partners, has undertaken the Family Prosperity Initiative (FPI). The cornerstone of this project is the Family Prosperity Index, which demonstrates quantitatively the link between economic and social wellbeing.
As the Dow Jones Industrial Average measures the rise and fall of the stock market, the Family Prosperity Index measures the strength and prosperity of families – and the nation – by combining the most important social and economic data into a single number.
The FPI Index offers a more holistic and accurate picture of our economy by considering social factors that have economic impact in addition to those factors measured by the government. The Index fills in the gaps around other measures like the GDP, assembling all of the pieces of the prosperity puzzle into a complete picture of the economy.
The FPI Index provides the credible data that state policymakers, civic and religious leaders, think tanks and activists need in order to develop and advocate effectively for policies that improve the prosperity of families and the communities where they live.
With the Family Prosperity Index, we now have a tool that will give us a more powerful voice for positive change to restore our economy, our families and our nation to prosperity.
Posted by Dr. Wendy P. Warcholik - Nov 11, 2016, 5:03 PM
The word "stunning" has appeared in countless media reports since Donald Trump's presidential election victory this week. Almost no one among the mainstream press, pollsters, or other political prognosticators saw it coming, and now all of them are scrambling to understand how it happened.