First and foremost, the field has witnessed the formation of two relatively distinct, yet overlapping, perspectives and paradigms for empirical inquiry into well-being that revolve around two distinct philosophies. The first of these can be broadly labeled hedonism (Kahneman et al 1999) and reflects the view that well-being consists of pleasure or happiness. The second view, both as ancient and as current as the hedonic view, is that well-being consists of more than just happiness. It lies instead in the actualization of human potentials. This view has been called eudaimonism (Waterman 1993), conveying the belief that well-being consists of fulfilling or realizing one's daimon or true nature. The two traditions--hedonism and eudaimonism--are founded on distinct views of human nature and of what constitutes a good society. Accordingly, they ask different questions ...
