The study of well–being is a rapidly evolving field, and an exquisite example of a truly multidisciplinary endeavour. Two of the strongest strands have emerged from recent research on positive psychology and on social capital, but the field reaches well beyond these domains. We summarize some of the major themes that unite these different approaches and disciplines, highlighting both commonalities and controversies. The five themes on which we focus are: (i) evolution and development; (ii) the nature of wellbeing; (iii) well–being and capabilities; (iv) the relationship between health and well–being; and (v) the implications of the findings of the research for intervention strategies and public policies.