Richard Layard

Professor Lord Richard Layard is a prominent economist at the London School of Economics, serving as Co-Director of the Community Wellbeing Programme at the Centre for Economic Performance. He is a member of the House of Lords and has significantly influenced UK government policy on mental health and wellbeing measurement.

Professor Layard is one of the first economists to work extensively on happiness and wellbeing. His research focuses on how cost-benefit analysis can better reflect what people truly value, with particular emphasis on mental health, unemployment, and inequality. He founded the Centre for Economic Performance at LSE and currently directs their wellbeing research program. His work demonstrates that mental illness is a major source of human misery, often exceeding poverty or unemployment in its impact on life satisfaction.

His publication record shows a clear progression from traditional labor economics to wellbeing science, with recent work focusing on cost-benefit analysis using wellbeing metrics, the Easterlin paradox, and international wellbeing comparisons. His research consistently bridges economics, psychology, and public policy, creating an interdisciplinary approach to understanding human wellbeing.

Professor Layard has received significant recognition for his work:

• Persuaded the British government to develop NHS Talking Therapies (IAPT), now treating 700,000 patients annually
• Influenced UK government to measure wellbeing as national statistic
• Co-founded Action for Happiness (2010) with over 500,000 members
• Co-founded the World Wellbeing Movement (2022)
• Co-editor of the annual World Happiness Report
• Author of influential books including "Happiness: Lessons from a New Science" (2005) and "Wellbeing: Science and Policy" (2023)

Professor Layard is currently conducting a major study of value-for-money across public expenditure, where value is measured in terms of wellbeing. This work aims to influence the 2025 Spending Review and potentially transform how governments evaluate policy effectiveness worldwide.