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February 2011

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“Measuring our progress as a country not just by how our economy is growing, but by how our lives are improving . . . not just by our standard of living, but by our quality of life.” David Cameron. In November, UK Prime Minister David Cameron announced that, to help guide national policy, the British government would begin to measure the subjective well-being of its citizens. The announcement was the latest evidence of a growing awareness among governments and economists that Gross Domestic Product (GDP) and other traditional metrics of economic

Barry Schwartz talks about how we are constantly torn between doing what we think is right vs. doing what is expected of us. If people are not doing the right thing, we implement rules and incentives - like what we did with the financial industry. But we know through experience that people will find ways to circumvent rules. If we give incentives to do something right, we hen focus on the reward and stop caring about doing the right thing. But what we need to is virtue, good character, people who