Measuring Objective Well-Being and Sustainable Development Management

Achieving sustainable development is undoubtedly a goal of every society and community. What is implied here is that it is a concept that needs to be managed, i.e. a goal that one strives to achieve in a continuous and dynamic sense, including continuous and consistent measurement. This paper sheds light on analysis of objective well-being that entails achievement of sustainable economic development and is reflected in living conditions. The authors argue for the necessity of monitoring and quantification of objective well-being in an economic and a non-economic dimension, which is substantiated by analysis of selected indicators from both dimensions, having different coverage and pointing to different levels of overall objective well-being.

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