Examining the fundamental thinking underpinning the foundation for economic studies of happiness, this book explores the theories of key economists and philosophers from the Greek philosophers to more modern schools of thought. Lall Ramrattan and Michael Szenberg explore the general measures of happiness, utility as a method, metrical measures of happiness, happiness in literature and the scope of happiness in this concise book.
Luigino Bruni, Bruni De Rosa and Alessandra Smerilli
The modern approach to the economics of happiness can be reconduced to the impressive work known as the ‘Easterlin paradox’. At the beginning of the seventies the economist Richard Easterlin observed that, even though within each country higher incomes were associated with higher levels of happiness, in a country over time average levels of happiness do not increase as the average income increases. In other words, the very rich are happier than the very poor, but as the country gets richer happiness remains almost constant. The evidence was first proposed in his original work for the US during the period 1946–70 (Easterlin 1974) and then during the period 1972 to 2002 (Easterlin 2005) when the gross domestic product (GDP) in the United States almost doubled while happiness remained constant. In a more recent paper (Easterlin 2015) the author confirmed the validity of the paradox using US data in the period 1972–2014. This evidence suggests that, beyond a certain income level required to meet basic needs, the so-called subsistence level, additional income doesn’t lead to additional happiness. Individual wellbeing is made of a broader set of factors (health, relations, life sense), other than pure income, which need to be accounted for in order to define a worthwhile life. Indeed, it is worth remarking that, in a modern sense, the economics of happiness can no longer be confined to the evaluation of subjective or psychological wellbeing, but also has to encompass the whole intellectual and political movement known as going beyond GDP and its implications in terms of the measurement and analysis of quality of life (QoL).
Monograph Chapter
In A Modern Guide to the Economics of Happiness
Edited by Luigino Bruni, Alessandra Smerilli and Dalila De Rosa
- Published:
- 15 January 2021
Collection:
Economics 2021
Edited by Luigino Bruni, Alessandra Smerilli and Dalila De Rosa
Exploring the modern approach to the economics of happiness, which came about with the Easterlin Paradox, this book analyses and assesses the idea that as a country gets richer the happiness of its citizens remains the same. The book moves through three distinct pillars of study in the field: first analysing the historical and philosophical foundations of the debate; then the methodological and measurements issues and their political implications; and finally empirical applications and discussion about what determines a happy life.
Monograph Chapter
In Religion and Consumer Behaviour in Developing Nations
Edited by Ayantunji Gbadamosi and Ayodele C. Oniku
- Published:
- 8 January 2021
Collection:
Business 2021
Edited by Ayantunji Gbadamosi and Ayodele C. Oniku
Examining how religion influences the dynamics of consumption in developing nations, this book illuminates the strategic placement of these nations on the global marketing stage both in terms of their current economic outlook and potential for growth.
Edited by Marta Sinclair
Handbook Chapter
In Handbook of Intuition Research as Practice
Edited by Marta Sinclair
- Published:
- 8 July 2020
Collection:
Business 2020
Edited by Marta Sinclair
How can intuition research inform practice? As the use of intuition in business has become more widely accepted, companies struggle to understand how to use this additional resource efficiently, while corporate trainers and university educators lack tools to develop it as a skill. This truly international Handbook provides relevant answers in a concise, digestible format using real-life examples and new research.
Why Ethical Behaviour is Good for the Economy
Towards Growth, Wellbeing and Freedom
Morris Altman
This timely book offers a nuanced critique of the nudge narrative, and demonstrates why and how ethical behaviour can have significant positive economic and wellbeing outcomes. Morris Altman models a complex alternative to the expectations of ethical behaviour and shows how this behaviour can be consistent with competitive market economies, contrary to what conventional economic theory suggests.
Handbook Chapter
In Handbook on Wellbeing, Happiness and the Environment
Edited by David Maddison, Katrin Rehdanz and Heinz Welsch
- Published:
- 18 May 2020
Collection:
Economics 2020
Edited by David Maddison, Katrin Rehdanz and Heinz Welsch
This topical and engaging Handbook brings together cutting-edge research on the relationship between happiness and the natural environment. With interdisciplinary contributions from top scholars, it explores the role of happiness research as a new approach to environmental social science, illustrating the critical links between human wellbeing, happiness and the environment.