How do you measure a country's happiness?

Australia ranks highest on the OECD's annual happiness index. But what does that mean?

The happy scale.
(Image credit: Thinkstock/Wavebreak Media)

The Organization for Economic Cooperation and Development (OECD) just unveiled its annual Better Life Index, a survey that breaks down happiness and well-being into 11 neat categories, from income to life satisfaction, and tallies the results.

The OECD stops short of announcing an official "winner" in its look at 34 industrialized nations — after all, happiness is not a competition. But if it were, and each factor counted equally, Australia, land of Vegemite, kangaroos, and baby-stealing dingos, would rank first for the third year in a row, as it performs quite well in most of the 11 categories that count.

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.

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