The Relationship of the Social and Economic Progress: A Case of European Cohesion Regions

Abstract

With increased attention of society to issues of income inequality, we decided to explore how the Social Progress Index relates to the overall distribution of GDP and when the Social Progress Index ceased to follow this behaviour. This paper describes the Social Progress Index for a holistic assessment of both social and economic progresses. The work analyses the main trends influencing the wellbeing of society in Europe. At the same time provides analyses of the relationship between economic development (measured by regional GDP per capita) and social development of society (measured by Social Progress Index). In frames of significant difference between GDP and SPI, we tried to find a deeper understanding of the relationship.