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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9

The Role of Well-being in a Great Transition

Author: John Stutz
Organisation: Tellus Institute
Publish Date: 2006
Country: Global
Sector: Social Development
Method: Creative thinking
Theme: Strategic Thinking
Type: Report
Language: English
Tags: Well-being, Development, Incomes, Lifestyles

The key theme in this paper is the possibility of changing the relationship between well-being and income. As the figure indicates, initially well-being rises sharply in response to increases in income. However, the gains decline dramatically as the level of income rises. There is a vertical line marking the passage from the realm of development in which gains in income yield substantial gains in well-being to the developed realm where the gains become minimal. Past that line, and beyond the level of income required for comfort, one reaches a “fork in the road”. The lower and upper branches of the solid curve that follow the fork illustrate different approaches to the pursuit of well-being. The key difference is one of strategy. Those following the bottom branch seek additional well-being as a by-product of gains in income. In contrast, those following the upper branch pursue well-being directly. They make choices such as limiting their hours of paid work to make time for a range of unpaid activities that allow them, in Keynes’ words, “to live wisely and agreeably and well”.
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