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Value for Money: How to Improve Wellbeing and Reduce Misery. A Report from the LSE Centre for Economic Performance

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Title: Value for Money: How to Improve Wellbeing and Reduce Misery. A Report from the LSE Centre for Economic Performance
Language: English
Authors: David Frayman, Christian Krekel, Richard Layard, Sara MacLennan, Isaac Parkes, London School of Economics and Political Science (United Kingdom), Centre for Economic Performance (CEP)
Source: Centre for Economic Performance. 2024.
Availability: Centre for Economic Performance. London School of Economics and Political Science, Houghton Street, London, WC2A 2AE, UK. Tel: +44-20-7955-7673; Fax: +44-20-7404-0612; e-mail: cep.info@lse.ac.uk; Web site: http://cep.lse.ac.uk
Peer Reviewed: N
Page Count: 56
Publication Date: 2024
Document Type: Reports - Evaluative
Education Level: Secondary Education
Elementary Education
Elementary Secondary Education
Descriptors: Cost Effectiveness, Expenditures, Well Being, Foreign Countries, Public Policy, Government (Administrative Body), Mental Health, Employment, Police, Research and Development, Transportation, Retirement Benefits, Housing, Therapy, Apprenticeships, Secondary Schools, Elementary Schools, Class Size
Geographic Terms: United Kingdom
Abstract: The government spends billions on our behalf. How do we want this money to be spent? This report reviews a range of policies and asks the fundamental question which should be asked of every policy: Does it deliver value for money? In other words, what benefit does it deliver to people relative to its net cost to the government. This benefit/cost ratio is the key single number the government should be looking at when it makes its spending decisions. In each case the benefits are measured in terms of the monetary equivalent of the impact of the policy in improving wellbeing. And the costs include an allowance for savings in subsequent years. [This study was financed in part by Partners for a New Economy and the LSE KEI fund.]
Abstractor: As Provided
Entry Date: 2025
Accession Number: ED674749
Database: ERIC
FullText Text:
  Availability: 0
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  Data: Value for Money: How to Improve Wellbeing and Reduce Misery. A Report from the LSE Centre for Economic Performance
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  Data: <searchLink fieldCode="AR" term="%22David+Frayman%22">David Frayman</searchLink><br /><searchLink fieldCode="AR" term="%22Christian+Krekel%22">Christian Krekel</searchLink><br /><searchLink fieldCode="AR" term="%22Richard+Layard%22">Richard Layard</searchLink><br /><searchLink fieldCode="AR" term="%22Sara+MacLennan%22">Sara MacLennan</searchLink><br /><searchLink fieldCode="AR" term="%22Isaac+Parkes%22">Isaac Parkes</searchLink><br /><searchLink fieldCode="AR" term="%22London+School+of+Economics+and+Political+Science+%28United+Kingdom%29%2C+Centre+for+Economic+Performance+%28CEP%29%22">London School of Economics and Political Science (United Kingdom), Centre for Economic Performance (CEP)</searchLink>
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  Data: <searchLink fieldCode="SO" term="%22Centre+for+Economic+Performance%22"><i>Centre for Economic Performance</i></searchLink>. 2024.
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  Data: Centre for Economic Performance. London School of Economics and Political Science, Houghton Street, London, WC2A 2AE, UK. Tel: +44-20-7955-7673; Fax: +44-20-7404-0612; e-mail: cep.info@lse.ac.uk; Web site: http://cep.lse.ac.uk
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  Data: 56
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  Data: <searchLink fieldCode="DE" term="%22Cost+Effectiveness%22">Cost Effectiveness</searchLink><br /><searchLink fieldCode="DE" term="%22Expenditures%22">Expenditures</searchLink><br /><searchLink fieldCode="DE" term="%22Well+Being%22">Well Being</searchLink><br /><searchLink fieldCode="DE" term="%22Foreign+Countries%22">Foreign Countries</searchLink><br /><searchLink fieldCode="DE" term="%22Public+Policy%22">Public Policy</searchLink><br /><searchLink fieldCode="DE" term="%22Government+%28Administrative+Body%29%22">Government (Administrative Body)</searchLink><br /><searchLink fieldCode="DE" term="%22Mental+Health%22">Mental Health</searchLink><br /><searchLink fieldCode="DE" term="%22Employment%22">Employment</searchLink><br /><searchLink fieldCode="DE" term="%22Police%22">Police</searchLink><br /><searchLink fieldCode="DE" term="%22Research+and+Development%22">Research and Development</searchLink><br /><searchLink fieldCode="DE" term="%22Transportation%22">Transportation</searchLink><br /><searchLink fieldCode="DE" term="%22Retirement+Benefits%22">Retirement Benefits</searchLink><br /><searchLink fieldCode="DE" term="%22Housing%22">Housing</searchLink><br /><searchLink fieldCode="DE" term="%22Therapy%22">Therapy</searchLink><br /><searchLink fieldCode="DE" term="%22Apprenticeships%22">Apprenticeships</searchLink><br /><searchLink fieldCode="DE" term="%22Secondary+Schools%22">Secondary Schools</searchLink><br /><searchLink fieldCode="DE" term="%22Elementary+Schools%22">Elementary Schools</searchLink><br /><searchLink fieldCode="DE" term="%22Class+Size%22">Class Size</searchLink>
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  Data: <searchLink fieldCode="DE" term="%22United+Kingdom%22">United Kingdom</searchLink>
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  Data: The government spends billions on our behalf. How do we want this money to be spent? This report reviews a range of policies and asks the fundamental question which should be asked of every policy: Does it deliver value for money? In other words, what benefit does it deliver to people relative to its net cost to the government. This benefit/cost ratio is the key single number the government should be looking at when it makes its spending decisions. In each case the benefits are measured in terms of the monetary equivalent of the impact of the policy in improving wellbeing. And the costs include an allowance for savings in subsequent years. [This study was financed in part by Partners for a New Economy and the LSE KEI fund.]
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  Data: 2025
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  Data: ED674749
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      – Text: English
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        PageCount: 56
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      – SubjectFull: Cost Effectiveness
        Type: general
      – SubjectFull: Expenditures
        Type: general
      – SubjectFull: Well Being
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      – SubjectFull: Foreign Countries
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      – SubjectFull: Transportation
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      – SubjectFull: Retirement Benefits
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      – SubjectFull: Elementary Schools
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      – TitleFull: Value for Money: How to Improve Wellbeing and Reduce Misery. A Report from the LSE Centre for Economic Performance
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              Y: 2024
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