The Age of the Welfare Revolution

The age of the welfare revolution has just begun. Several national and international organizations have attempted to define the main characteristics of welfare. During the financial crisis the governments have realised that in order to increase well-being they must include new objective and subjective factors in their public surveys. The aim of this article is to highlight the weaknesses and strengths of the existing indicators and to indicate the importance of this new agenda.Keywords: welfare, well-being, subjective well being, quality of life, happiness