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April 17, 2008

Economic Growth and Subjective Well-Being (Happiness)

In a recent paper two UPenn scholars challenge the idea that above a level that meets basic needs relative income determines happiness much more than absolute income, a theory originally put forward by Richard Easterlin in 1974.  The paper is: Betsey Stevenson & Justin Wolfers, Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox (Draft 4/16/2008).  The New York Times coverage, as well as their country by country / income map of happiness provides a good summary, though the paper itself includes many other charts of interest. 

-E.R. erosser@wcl.american.edu

April 17, 2008 in Books/Articles/Reports of Interest | Permalink

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