Value for Money
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- Publisher:
- Cambridge University Press
- Publication date:
- 21 October 2026
- 26 November 2026
- ISBN:
- 9781009783163
- 9781009783170
- 9781009783187
- Dimensions:
- (229 x 152 mm)
- Weight & Pages:
- 198 Pages
- Dimensions:
- (229 x 152 mm)
- Weight & Pages:
- 198 Pages
- Subjects:
- Economics, Macroeconomics, Applied Psychology, Psychology
You may already have access via personal or institutional login- Subjects:
- Economics, Macroeconomics, Applied Psychology, Psychology
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Book description
Governments spend billions on our behalf. But how should this money be spent? The purpose should be to increase the wellbeing of the people. So the best policies are those which produce the most wellbeing per pound spent. The new science of wellbeing now enables us to make these calculations. The authors of this book, led by Richard Layard, do just that across a whole range of government policies. And the results call for radical changes in priorities. This path-breaking book opens up a new approach to policy-making. It combines traditional economics with the new psychology of happiness. By valuing non-monetary outcomes it does what politicians have always wanted. Its methods have already been adopted by the UK Treasury and are relevant worldwide. If followed, they would produce a happier world. When people ask where do we go 'beyond GDP', this is the answer.
Reviews
‘This innovative book is far ahead of its time. The authors want to promote a more rational form of government and to produce a happier society. They will. This is cost-benefit analysis for real humans. Jeremy Bentham would marvel at, and applaud, the authors' work.’
Andrew Oswald - Professor of Economics and Behavioural Science, University of Warwick
‘If any government wants to know how to deliver the most benefit from taxpayers money, they need to study this essential guide. It solves the dilemma of how to achieve more without raising taxes or borrowing.’
Gus O'Donnell - Frontier Economics
‘The book provides essential tools for the training of policy analysts in all countries. The authors use UK evidence to show how to rank government expenditures in terms of their likely consequences for well-being, as measured by life satisfaction. Their well-chosen examples show the importance of measuring the size, duration and distribution of both benefits and costs.’
John Helliwell - University of British Columbia
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