The Personal Wellbeing Model

Wellbeing economics is defined as the whole societal system that generates wellbeing through co-operative activities. It is distinguished from the traditional monetary economics that has a bias towards activities that involve monetary flows, with poor representation of unpaid activities that contribute to prosperity. The articles below provide insight into what wellbeing is, how it is generated and how it can be measured as the basis for assessing how successfully society achieves its objectives. For clarity, we refer to the wellbeing of an individual, and to the prosperity of a society. In this usage, the prosperity of society represents the aggregate wellbeing of its members.