Economic Growth and Quality of Life: A Comparative Indicator Analysis Between China (Taiwan), U.S.A. and Other Developed Countries, by Ben-Chieh Liu. American Journal of Economics and Sociology, Volume 39, Issue 1, pages 1–21, January 1980
Abstract. A composite Quality of Life (QOL) indicator model of five major components—Social, Economic, Energy and Environmental, Health and Education, and National Vitality and Security—was developed. Based on cross-national data of 1975, 32 developed countriesand China (Taiwan) were ranked according to their component and overall QOL measures. The influence of income and other variables on QOL was analyzed; it was found that the income variable is not as significantly related to the composite QOL indexes as are other variables and China (Taiwan’s) QOL rankings far exceed its per capita income ranking in the international comparison. The U.S.surpassed all the countries studied in providing its citizens with basic human needs and the highest material standard of living. The national vitality and security component indicated, however, that the U.S. may have lost, militarily and strategically, some of its influence and perceived power to the U.S.S.R.