OECD Better Life Index

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The OECD Better Life Index, in May 2011 by the Organisation for Economic Co-operation and Development following a decade of work on this issue, is a first attempt to bring together internationally comparable measures of well-being in line with the recommendations of the Commission on the Measurement of Economic Performance and Social Progress also known as the Stiglitz-Sen-Fitoussi Commission. The recommendations made by this Commission sought to address concerns that standard macroeconomic statistics like GDP failed to give a true account of people's current and future well-being. The OECD Better Life Initiative includes two main elements: "Your Better Life Index" and "How's Life?"

Video OECD Better Life Index

History and methodology

Your Better Life Index (BLI), launched in May 2011, is an interactive tool that allows people to compare countries' performances according to their own preferences in terms of what makes for a better life. It was designed by Berlin-based agency Raureif in collaboration with Moritz Stefaner. First published on 24 May 2011, it includes 11 "dimensions" of well-being:

Housing: housing conditions and spendings (e.g. real estate pricing)
Income: household income and financial wealth
Jobs: earnings, job security and unemployment
Community: quality of social support network
Education: education and what you get out of it
Environment: quality of environment (e.g. environmental health)
Governance: involvement in democracy
Health
Life Satisfaction: level of happiness
Safety: murder and assault rates
Work-life balance

Canberra, has been ranked as the world's most liveable city according to the OECD Better Life Index for the second consecutive year, based on results published on 6 October 2014.

How's Life? offers a comprehensive picture of what makes up people's lives in 40 countries worldwide. The report assesses the above 11 specific aspects of life as part of the OECD's ongoing effort to devise new measures for assessing well-being that go beyond GDP.

New indicators and dimensions are planned be added to the Better Life Index in the future. For example, the Better Life Index was criticised for not showing inequalities in a society. Future editions of the index are planned to take inequalities into account, by focusing on well-being achievements of specific groups of the population (women and men and low and high socio-economic status).