Measuring wellbeing in theory and practice

There has been a recent resurgence of interest in the concept of progress and how it is measured. This paper explores the role that concepts of wellbeing and sustainability play in informing a framework for public policy analysis with a particular focus on the Australian Treasury. Treasury's policy objective, set out in its mission statement, is to improve the wellbeing of the Australian people. As such, sustainable social progress or improving wellbeing, and how it is measured, are of central concern to the work of the Treasury.