New well-being survey: Britain fares poorly

January 25th, 2009

I was interested to read the recent New Economics Foundation survey which interviewed 40,000 people across Europe in an attempt to produce a new set of "National Accounts of Well-Being". David Cameron and others have called for a broader measure for how well the country is doing, rather than just GDP, and this is claimed to be the first attempt. The UK ranks 13th out of 22 countries overall on a measure that includes:

  • Personal well-being, which includes resilience, sense of purpose and meaning, and emotions.
  • Social well-being – supportive relationships, and trust and belonging.

It’s a thought provoking approach, which echoes the thoughts of several leading thinkers, that economic growth is very important, but not the whole story. As Charles Handy argued over 10 years ago in "The Hungry Spirit", capitalism is an important part of the answer, but is not enough.

So what has this got to do with Inner Flame? Well, all the factors listed above are just as important to young people, which is why they’re covered in "Fire Me Up!". Some are of particular concern. To quote:

"People in the UK aged 16-24 report the lowest level of trust and belonging – a key element of social well-being – anywhere in Europe, perhaps the result of the development of a highly individualistic culture in the UK."

Addressing these issues is partly the responsibility of government, but they can only do so much. We need to re-focus, individually and collectively, on our core values. What’s most important to us in the long run? How can we change our focus towards these things, and get a proper perspective on money and materialism?

I say these things not as an idealist, but as someone who is a strong believer in capitalism and free market economics! It’s a question of balance.

David

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