A revision of the Literature concerning well‐being, globalization and sustainability is performed trying to summarize the detected advantages and disadvantages of globalization, and the main methods to try to find the best way to intervene the process in order to improve sustainability and well‐being. A common sense analysis and a method based on fuzzy cognitive maps are applied as an illustration with data extracted from the revised literature. Conclusions of this tentative first approach recommend intervening with priority by improving: promotion of common norms and values assumption (justice, love, respect, etc.); regulation of markets, finance transactions, etc.; social security nets existence and effectiveness (poor's help); global and local laws existence and effectiveness; investment (capital accumulation); promotion of adaptability and mental ability in workers; and reducing average customs duty. Copyright © 2013 John Wiley & Sons, Ltd.