Economic (GDP) growth is the major engine driving social progress. Starved of economic growth there would be lack of progress. It is a renowned fact that the growing economy provides a material basis for progress in social sphere, through increase in social production varying conditions of life both a separate person, and society all together. But economic achievements are not the aims of economic growth. The main idea is to increase the level of quality of human life. Life quality as an estimation of well-being and it depends both on economic forces, and subjective value of a person of his place and a role in an economic life. Life quality parameters become independent factors of economic development of society. The combination of initial endemic poverty, high inequality and low growth has been mortal to the achievement of poverty reduction – increasingly accepted as the primary objective of socio-economic development.
Economic and Social Well-Being is intended to explore relation between wellbeing and sustainability in an attempt to establish theoretical concept for sustainable wellbeing. The book examines the relationship between economic development and social components of human well-being. Over the years, growing number of researches seek to understand and reason with factors that influence and constitute wellbeing and its potential synergy with sustainability. Covered studies have highlighted that factors constituting wellbeing do not necessarily indicate sustainability. Examining existing indicators, studies propose that new measures must assess more adequately the well-being of all segments of society—women, children, the elderly, and racial and other minorities.
Providing the complex links between recent changes in national economies, welfare regimes, social inequalities, and population health, the content of this book will interest a wide audience of graduates, researchers, professional practitioners and policymakers involved with non-profit and government organizations, and interested community members.