Measuring Well-Being Beyond GDP: The OECD Approach
How well are economies doing for people? How sustainable is our way of living? Are societies thriving with purpose? These are the key questions that the OECD’s work on multidimensional well-being is addressing. To fill the gap between standard macroeconomic statistics and indicators that have a more direct bearing on people’s life, the OECD has been comparing and benchmarking countries’ performance on current well-being and sustainability since 2011. Through the Better Life Index and the How’s Life? Report, the OECD is documenting whether life is getting better for people in OECD and selected partner countries. The Better Life Index and the How’s Life? Report is underpinned by the OECD Well-Being Framework which encompasses key economic, social, relational and personal aspects of well-being, their distribution across the population as well as their drivers over time. The analysis builds on a set of over 80 indicators which covers current well-being outcomes, inequalities thereof, and resources for future well-being. The Better Life Index, an interactive web tool, also collects views and preferences on well-being to understand the relative importance of well-being dimensions across the globe.