In 1989, Central and Eastern Europe started its experience with economic transition. Since then, the effects on well-being have been studied in multiple ways. Since 2008, Cuba is attempting to adapt its economy to curb the economic crisis, hence releasing its control on individuals and signing some international agreements. The goal of this paper is to determine the relationship between well-being and legislation in the context of economic transition. This is done by discussing three economic approaches to well-being: revealed preference, capability approach, and quality of life.We find that well-being is more representative with the quality of life approach, because it is an extensive and complete measure. Various approaches to quality of life have been developed, but for well-being to be well represented, the quality of life measurement needs to include as many indicators relevant to the society as possible. The results are that legislation can help improve well- being in areas that are affected by the economic transition, such as employment, human rights, freedoms, income, opportunities. By using legislation, the State can create programmes and make funds available to support citizens whose lives might be negatively affected by the transition.Hence, there is a strong relation between well-being and the use of legislation to improve it.