This chapter explores the concept of well-being beyond traditional economic metrics such as gross domestic product (GDP), emphasizing the multidimensional aspects of human development, including material, immaterial, and perception-based indicators. It critically examines the evolution and application of composite indices such as the Human Development Index (HDI) and its historical variations, such as the inequality-adjusted HDI and Historical Index of Human Development (HIHD). Using long-term data from various regions, the chapter illustrates the uneven global trajectories of well-being, highlighting disparities across geographical and socio-political contexts. Material well-being analysed, for example, through anthropometric measures and housing quality reveals the complex interplay between economic growth, inequality, and societal conditions, particularly during industrial transitions. Immaterial dimensions, such as education and health, are framed within human development theories, showcasing their role in enhancing quality of life over time. This chapter also interrogates the dynamics of income and spatial inequality, linking these to broader socio-economic transformations and policy interventions. Through innovative approaches, including the use of historical and perception-based data, the analysis expands the discourse on well-being to incorporate social factors such as corruption, urbanization, and environmental quality.