"National Time Accounting is a way of measuring society's well-being, based on time use. Its explicit form is the U-index, for “unpleasant” or “undesirable”, which measures the proportion of time an individual spends in an unpleasant state".
This is according to a new IZA paper by Blanchflower. The paper reviews cross-country evidence on happiness and life satisfaction and considers whether these data will be replaced by the U-index.
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