Legatum Institute: Launch of the Commission on Wellbeing and Policy Report
The Legatum Institute hosted a livestreamed panel discussion to mark the launch of 'Wellbeing and Policy', a new report which aims to stimulate debate around if, and how, wellbeing analysis should influence government policy.
One year ago the Legatum Institute set up an independent commission, titled 'The Commission on Wellbeing and Policy'. Chaired by former UK Cabinet Secretary Lord O’Donnell, the commission was made up of a high-level panel of academics and experts in the field of economics and wellbeing: Angus Deaton from Princeton University, Martine Durand from the OECD, David Halpern from the Behavioural Insights team andRichard Layard from LSE.
The aim of the Commission on Wellbeing and Policy was to explore the implications of using a wellbeing lens for policy-making. After a year of intense research, the commissioners presented their final report Wellbeing and Policy, which proposes a radical reform of public policy-making that goes beyond the traditional economic framework of GDP growth. The report argues 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 [...]