Wellbeing Economics, Future Directions for New Zealand. Paul Dalziel and Caroline Saunders Seventy-five years after Labour's social security reforms of the 1930's, it is time for a major shift in how New Zealand regards the wellbeing of its people. Instead of measuring economic growth for its own sake, we should be assessing how well it enables New Zealanders to lead 'the kinds of lives they value and have reason to value'. An inspiring call for New Zealand's transformation from the traditional 'welfare state' to a progressive 'wellbeing state'.