Wellbeing: A Complete Reference Guide, Economics of Wellbeing

Part of the six-volume Wellbeing: A Complete Reference Guide, this is a comprehensive look at the economics of wellbeing with coverage of history, research, policy, and practice.

• Examines the challenges inherent in studying and measuring wellbeing from an economic perspective
• Discusses strategies and interventions to improve wellbeing across the lifespan and in different settings
• Addresses the potential economic benefits for governments and policymakers of actively investing in initiatives to improve wellbeing, from the workplace to the home to the natural environment
• Emphasizes the need to strengthen the evidence base for the economics of wellbeing and improve methods for translating research into policy and practice

About the Editors vii

Contributors ix

Full Contents of Wellbeing: A Complete Reference Guide xi

Introduction to Wellbeing: A Complete Reference Guide xxv

1 Introduction 1
David McDaid and Cary L. Cooper

Part 1 Perspectives on the Economics of Wellbeing 11

2 A Short History of Wellbeing Research 13
Laura Stoll

3 Income and Wellbeing: A Selective Review 33
Brendan Kennelly

4 Does Money Buy Me Love? Testing Alternative Measures of National Wellbeing 49
Arthur Grimes, Les Oxley, and Nicholas Tarrant

5 The Impact of the Great Recession on Economic Wellbeing: How Different Are OECD Nations and Why? 83
Lars Osberg and Andrew Sharpe

6 Was the Economic Crisis of 2008 Good for Icelanders? Impact on Health Behaviours 111
Tinna Laufey Ásgeirsdóttir, Hope Corman, Kelly Noonan, Þórhildur Ólafsdóttir, and Nancy E. Reichman

7 Mental Health: A New Frontier for Labor Economics 157
Contents of this Volume Richard Layard

Part 2 Promoting Wellbeing: The Economic Case for Action 179

8 Investing in the Wellbeing of Young People: Making the Economic Case 181
David McDaid, A-La Park, Candice Currie, and Cara Zanotti

9 Investing in Wellbeing in the Workplace: More Than Just a Business Case 215
David McDaid and A-La Park

10 Promoting the Health and Wellbeing of Older People: Making an Economic Case 239
A-La Park, David McDaid, Anna K. Forsman, and Kristian Wahlbeck

11 Promoting and Protecting Mental Wellbeing during Times of Economic Change 261
David McDaid and Kristian Wahlbeck

12 Making Use of Evidence from Wellbeing Research in Policy and Practice 285
David McDaid

Index 299

"The Guide’s major strengths are its breadth and depth with reviews of the literature, case studies, empirical findings, historical reflections, and future guidance. Scientists working on any subfield can now see how their work informs other fields and ideas for interdisciplinary projects." (PsycCRITIQUES, March 2015)

"I would recommend this book for acquisition. Each volume has its own ISBN and there are volume indexes, rather than a master index, so specialist libraries could purchase individual volumes. The different volumes hang together well however, so I would recommend getting the set if possible. This set has arrived on the crest of a wave of academic and, to a lesser extent, public interest. Academic libraries catering for courses in psychology, health-related subjects, education, social policy or economics will all find useful material here." (Reference Reviews, 2014)

“This series could complement a variety of libraries, such as a home or personal library, office, or academic setting. Wellbeing is a global topic that influences each individual. This series is a valuable resource.” (American Reference Books Annual, 1 June 2014)

David McDaid is Senior Research Fellow in Health Policy and Health Economics at LSE Health and Social Care and the European Observatory on Health Systems and Policies at the London School of Economics and Political Science.

Cary L. Cooper is Distinguished Professor of Organizational Psychology and Health at Lancaster University.

Wellbeing: A Complete Reference Guide is the first multi-volume, interdisciplinary exploration of the topic of wellbeing. The notion of wellbeing has grown in importance and prominence across the globe in recent years and this reference work provides an in-depth examination of the characteristics that enable individuals and organizations to thrive and flourish. Under the direction of noted academic Cary Cooper, and edited by a distinguished group of senior scholars from a variety of disciplines, this project looks at wellbeing from multiple perspectives, including children and families; the workplace; the environment; later life; economics; and interventions and public policy. Spanning the social sciences and encompassing the latest research, this is an essential reference for scholars, students, professionals, and policymakers who want to enhance and promote human wellbeing.

The Economics of Wellbeing provides a comprehensive overview of the topic, including a history of economic research in this area. It examines the challenges inherent in studying and measuring wellbeing from an economic perspective. It discusses various strategies and interventions that can improve wellbeing across the lifespan and in different settings, from the workplace to the home to the natural environment. In accessible language, the contributors address the potential economic benefits for governments and policymakers of actively investing in initiatives to improve wellbeing for citizens. Throughout, there is an emphasis on strengthening the evidence base in this area and improving methods for translating economic research into policy and practice.