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Calculating a nation's well-being instead of GDP

1 April 2014

And such a target can be established. Indeed, a group of economists (including me) concluded in a report commissioned by the Legatum Institute that, despite its apparent subjectivity, ''wellbeing'' - or life satisfaction - can be measured robustly, compared internationally, and used to set policies and judge their success. The task for governments is to commit to putting this focus on well-being into practice.

This article was published in The Japan Times on April 1, 2014
Link to article here

Related publications
'Wellbeing and Policy', Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, Legatum Institute Report, March 2014
Link to report here

Related links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing Programme webpage

Read more... Japan Times