Abstract:Everyone aspires to a good life. But what does a "good" (or better) life mean? In recent years, concerns have emerged that standard macro‐economic statistics, such as GDP, which for a long time had been used as proxies to measure well‐being, failed to give a true account of people's current and future living conditions. The ongoing financial and economic crisis has reinforced this perception and it is now widely recognised that data on GDP provide only a partial perspective on the broad range of factors that matter to people's lives. Even during times of economic hardship, when restoring growth matters for the achievement of many well‐being outcomes, such as having a good job or access to affordable housing, at the core of policy action must be the needs, concerns and aspirations of people and the sustainability of our societies.
Document Type: Review Article
Publication date: October 1, 2011