overall, Canada is the best place to live in the world, followed secondly by the US and then the UK. Japan would be 4th on my list if it wasn't for the recent earthquakes.
Like I said, the UN's Human Development Index provides a good basis for ranking countries, but I think some improvements could be made in terms of the calculated weight of categories, and the dependent variables chosen.
So here's my preliminary proposal:
Education (The product of educational attainment with average inflation adjusted compensation)
Health (The product of aggregate health related R&D spending, physicians per capita, patents per capita, and the rate of survival for life threatening conditions).
Human Security (The product of the rate of felony offenses with the attributable loss in income and life).
Income (The product of aggregate household wealth per capita and the rate of household wealth mobility per annum).
Inflation (The product of the rates of inflation for core, commodity, and producer prices).
Taxation (The quantity of aggregate taxation per household minus the inflation adjusted value of government services).
Property (The product of the median monetary value per/square foot, the level of output per /square foot, and the amount of square feet inhabited by each household).
Public Services (The multiplier effect of public spending minus the public liabilities incurred per annum).
Output (The Gross National Product defined in real terms).
Poverty (The percentage of households living below the median level of household wealth---let's define household wealth as the sum of available credit, income, and asset values minus liabilities per annum)
Labor Market (The percentage of the population participating in the official and underground economy minus the quantity of retirees or disabled)
Rule of Law (The product of the rate of recidivism and the per capita cost of infractions and enforcement----not including allocations for the mitigation of external threats).
Happiness (The product of the per capita incidence of DSM defined neuropsychiatric illnesses, the per capita rate of suicide, and the per capita attributable costs of neuropsychiatric illness).
I'm not sure about the appropriate methodology for weighting categories and calculating aggregate scores, but I think the value of each variable should have some basis in literature supported values in determining output, costs, longevity, and happiness. For obvious reasons, this isn't an urgent project, but if I find that it has any momentum----I suspect some friends, colleagues, or what not will slowly sculpt it into something more shapely.