Making space for well-being?
By Mia Gray, Linda Lobao, and Ron Martin
“There is a paradox at the heart of our lives. As Western societies have got richer, their people have become no happier” (Layard, 2005). Layard has not been alone in questioning the relationship between economic growth and well-being. Theoretically, empirically, and politically, there is increasing dissatisfaction with growth as the main indicator of well-being. As such, there is renewed interest in analysing the institutions and conventions through which the economy and society are measured and understood.