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Author Stevenson, Betsey ♦ Wolfers, Justin
Source CiteSeerX
Content type Text
File Format PDF
Language English
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Subject Keyword Clear Positive Link ♦ Analyze Multiple Rich Datasets ♦ Org Jwolfers ♦ Easterlin Paradox ♦ Easterlin Question ♦ Average Level ♦ Satiation Point ♦ Subjective Wellbeing ♦ Subjective Well-being ♦ Recent Decade ♦ Economic Development ♦ Relative Income Comparison ♦ Minimal Role ♦ Economic Growth
Description www.nber.org/~jwolfers The “Easterlin Paradox ” suggests that there is no link between the level of economic development of a society and average levels of happiness. We return to Easterlin’s question: “Will raising the incomes of all increase the happiness of all? ” and analyze multiple rich datasets spanning recent decades and a broader array of countries. We establish a clear positive link between GDP and average levels of subjective well-being across countries with no evidence of a satiation point beyond which wealthier countries have no further increases in subjective well-being. Moreover, we show that this relationship is consistent with the relationship between income and happiness within countries, suggesting a minimal role for relative income comparisons as drivers of happiness. Finally, we examine the relationship between changes in subjective well-being and income over time within countries, finding that economic growth has been associated with rising happiness.
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study
Learning Resource Type Article
Publisher Date 2008-01-01
Publisher Institution Easterlin Paradox.” IZA Discussion Paper 3654, Institute for the Study of Labor