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Determinants of well-being

Published 30 Jan 2024 in econ.GN and q-fin.EC | (2401.17047v1)

Abstract: Traditionally, European social policies have focused on material well-being and social justice, neglecting subjective indicators. This review systematically examines the scientific understanding of well-being, its indicators, and its relationship with governance. It suggests that political systems and institutions significantly impact well-being, and that subjective indicators should be incorporated into public policy decisions. The findings advocate for a more holistic approach to well-being measurement, encompassing both objective and subjective dimensions.

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