The Organisation for Economic Co-operation and Development, (OECD) is turning 50 and they are now considering “life satisfaction” along with its existing economic measures. They have developed the “Your Better Life Index” measuring 11 domains in each of the OECD 34 member countries. OECD secretary-general Angel Gurría says, "[The Index] has extraordinary potential to help us deliver better policies for better lives."
Starting tomorrow the OECD is hosting New Directions in Welfare II, a three day conference focused on discussing the economics of welfare and public policy. Economists from around Europe and the World began this discussion with part one in 2009 in Oxford.
Additionally they are collaborating with Action for Happiness, an organization founded last year in Britain that is dedicated to bringing people together to create a happier society.
Just over a month ago New Zealand published a national happiness study. The study, "Working Towards Higher Living Standards for New Zealanders," conducted over 18 months acknowledges that, “living standards are broader than income alone, and are determined by a wide range of material and non-material factors." Ross McDonald, a senior lecturer at the University of Auckland Business School, says, "We've got to get out of the mindset that sees growing economies as our ultimate purpose in life,"
French President Nicolas Sarkozy has called the movement from GDP to the measurement of happiness a “revolution.”