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CEP Press Release: Report calls for wellbeing to be at the heart of public policy design

Professor Lord Richard Layard of the Centre for Economic Performance is part of an independent commission established by The Legatum Institute, proposing a radical reform of public policy-making, targeted at “wellbeing”, or life satisfaction, not simply economic growth.
The Commission’s report, Wellbeing and Policy concludes that GDP is too narrow a measure of prosperity. Instead, policy should aim at increasing people’s satisfaction with their lives, using measures of wellbeing as an indicator of success. The report explains how to define and measure wellbeing, and demonstrates how it can be used to measure the success of different policies and different countries.

Details of the report were released on 20 March 2014

Related Publication
Wellbeing and Policy Gus O’Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O’Donnell webpage
Wellbeing webpage