Happiness in Economics

By: Richard A. Easterlin (Editor)

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This volume presents a selection of economics articles on individuals' subjective well-being. It aims to demonstrate that economics is relevant to people's happiness. Part I includes key early papers on happiness and income, determinants of the happiness-income relationship, and policy implications, as well as the Leyden analysis of income norms. Part II contains recent analyses of the determinants of happiness.

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'Economic psychologists - in fact all economists - should welcome Richard Easterlin's Happiness in Economics . . . Richard Easterlin is a felicitous choice as editor of this volume. He provides an excellent short introduction, and the readings included are well anchored by this classic 1974 article "Does Economic Growth Improve the Human Lot? Some Empirical Evidence". . . Easterlin's volume should rank high on our list of required readings. The articles he has chosen provide an excellent overview of the subject. What makes a volume of this sort work is the thoughtfulness and discrimination of the editor, and Easterlin is to be congratulated . . . I heartily recommend Happiness in Economics.' -- Alan J. MacFadyen, Journal of Economic Psychology
'I am delighted that Professor Easterlin, the most well-known forerunner in the analysis of income and happiness, has assembled a volume comprising excellent contributions in this most important area. As happiness is the ultimate objective of life, the collection deserves the close reading of all students in economics.' -- Yew-Kwang Ng, Monash University, Australia and Nanyang Technological University, Singapore
'Richard Easterlin has pioneered the study of happiness in economics. This book assembles an impressive collection of articles. It demonstrates the major insights gained by integrating individuals' subjective satisfaction in order to better understand how the economy works. The study of happiness injects new life into economics.' -- Bruno S. Frey, University of Zurich, Switzerland
'If you are on leave for a year, headed for a desert island with space in your boat for only one book, I suggest you take this volume. Its topic matters more than any other in social science. And at last, after three decades, economists are starting to pay attention to Richard Easterlin and the emerging literature on the economics of happiness that he began. This book raises profound issues for western society, where it is going, and what we might be able to do to improve our own and our grandchildren's lives.' -- Andrew Oswald, Warwick University, UK

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You Can Find This Book In

Non-Fiction Self-Help, Personal Development & Practical Advice Popular Psychology Economics Economic Theory & Philosophy Sociology & Anthropology Anthropology Social & Cultural Anthropology, Ethnography

Acknowledgements	p. vii
Introduction	p. ix
Early Contributors
Happiness and Income
'Does Economic Growth Improve the Human Lot? Some Empirical Evidence', in Paul A. David and Melvin W. Reder (eds), Nations and Households in Economic Growth: Essays in Honor of Moses Abramovitz, New York and London: Academic Press, 89-125 (1974) cRichard A. Easterlin	p. 5
Determinants of the Happiness-Income Relationship
'Preferences or Happiness? Tibor Scitovsky's Psychology of Human Needs', Critical Review, 10 (4), Fall, 471-80 (1996)	p. 45
'My Own Criticism of The Joyless Economy', Critical Review, 10 (4), Fall, 595-605 (1996)	p. 55
'Economic Growth and Social Welfare: The Need for a Complete Study of Happiness', Kyklos, 31 (4), 575-87 (1978)	p. 66
Policy Implications
'The Frame of Reference as a Public Good', Economic Journal, 107 (445), November, 1832-47 (1997)	p. 81
'Human Satisfactions and Public Policy', Economic Journal, 90, December, 737-50 (1980)	p. 97
The Leyden Analysis of Income Norms
'The Measurement of Welfare and Well-Being: The Leyden Approach', in Daniel Kahneman, Ed Diener, and Norbert Schwarz (eds), Well-Being: The Foundations of Hedonic Psychology, Chapter 21, New York: Russell Sage Foundation, 413-33 (1999)	p. 113
'The Relativity of Utility: Evidence from Panel Data', Review of Economics and Statistics, LXVII (2), May, 179-87 (1985)	p. 134
'Relative Utility and Income Growth: An Example', addendum to Chapter 8 (2001)	p. 143
Recent Contributions: The Determinants of Happiness
'Happiness and Economic Performance', Economic Journal, 107 (445), November, 1815-31 (1997)	p. 149
'Unhappiness and Unemployment', Economic Journal, 104 (424), May, 648-59 (1994)	p. 166
'Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness', American Economic Review, 91 (1), March, 335-41 (2001)	p. 178
'Happiness, Economy and Institutions', Economic Journal, 110 (466), October, 918-38 (2000)	p. 185
'Income and Happiness: Towards a Unified Theory', Economic Journal, 111 (473), July, 465-84 (2001)	p. 206
'Rationality, Joy and Freedom', Critical Review, 10 (4), Fall, 481-94 (1996)	p. 226
Name Index	p. 241
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Happiness in Economics

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