The Office for National Statistics in UK was asked by the Prime Minister David Cameron last November to find out - or at least to work out how to find out.
After a six month-long consultation the wellbeing project came to the conclusion of a crucial difference:
* happiness is one intangible thing.
* wellbeing is - they say - measurable in the same way our economy is.
The project leader said:
It is essential that the set of measures of well-being is relevant and well-based in what matters to people, both as individuals and for the UK as a whole
So, how will they do it? The study has been split into a search for two types of indicators - subjective ones about how we feel and objective measures of things that affect our wellbeing.
On top on 4 extra questions in the Integrated Household Survey (IHS), they plan to investigate four major areas:
* Economy and inequality
* Work/life balance
The first results are expected back in July 2012.
Source: The Guardian