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Treasury improving

The Government’s leading economic adviser is getting back to normal.

By Brian Easton In Economy

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23rd November, 2011
Economists always knew income was just one contributor to total well-being, but it was the only bit they could study. Later, as the databases became more comprehensive, new research enabled them to turn their minds to what else matters and to look at whether they might have anything to say about this. This is well illustrated in the ­Treasury framework set out by the outgoing ­Secretary of the Treasury, John Whitehead, last May There is a broad range of material and non-material determinants of living standards. Individual freedoms and capabilities are very important. The ...

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