Socio-Economic and Psychological Well-Being: An Analytical Study for Sustainable Policy-Making

Abstract

This study aims to create an integrated framework for assessing socio-economic and psychological well-being to guide sustainable policy-making. Researchers surveyed 300 individuals across various income brackets, evaluating their well-being based on their responses to 53 items measuring economic, social, and psychological factors. Analysis of the collected data revealed that while financial well-being scored the lowest at 49%, psychological well-being ranked highest at 65%, with social well-being at 61%. The study's findings challenge the traditional emphasis on income as a sole indicator of well-being and highlight the necessity for policies that foster a holistic sense of well-being. This research contributes significantly to the development of sustainable policies by proposing a comprehensive approach to evaluating and enhancing the well-being of different social echelons.