Lives Well Lived

RICHARD LAYARD: the science of wellbeing

6 snips
Feb 6, 2025
Richard Layard, a prominent British economist and member of the House of Lords, champions the integration of happiness into government policies. He discusses the surprising factors influencing well-being, emphasizing that money alone doesn’t equate to happiness. Mental health initiatives, childhood emotional well-being, and community connections play pivotal roles. Layard also explores utilitarianism’s ethical dilemmas and reflects on the societal importance of interpersonal relationships and contributing to a meaningful life.
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INSIGHT

Well-being and Elections

  • Life satisfaction strongly predicts election outcomes, often more so than economic indicators.
  • Governments should prioritize increasing citizen well-being for their own and their constituents' benefit.
INSIGHT

Measuring Well-being

  • Well-being is best measured by individuals' self-reported life satisfaction, reflecting their overall feeling about their lives.
  • This democratic approach allows individuals to evaluate their own experiences on a scale, rather than relying on complex indices.
INSIGHT

Well-being vs. GDP

  • Governments and organizations increasingly measure well-being, showing a shift from solely focusing on GDP.
  • However, fully adopting well-being as the primary goal remains a work in progress.
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