HAPPINESS

HAPPINESS - THE SCIENCE OF HAPPINESS ( Daniel Kahneman,...

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‘ THE SCIENCE OF HAPPINESS’ ( Daniel Kahneman, Richard Layard, Andrew Oswald, Angus Deaton) Layard’s lectures: ‘Happiness: Has Social Science a Clue?’ 1 . Happiness as a central concept (‘Back to Bentham’) What is happiness? ‘Feeling good ‘- a mental state of a person or a general feeling of life satisfaction, as distinct from the ‘satisfaction of preferences’ Why is happiness important? 2 .EASTERLIN PARADOX : R. Easterlin’s 1974 paper ( Does Economic Growth Improve the Human Lot? Some Empirical Evidence) discusses the following paradox: Although within a given country richer people tend to be happier, the average reported happiness level in rich countries is not higher than in poorer countries (after they reached income sufficient to meet basic needs). This was confirmed by empirical studies of happiness across countries as well as by empirical studies of individual countries across time. See trends in ‘happiness’ and the level of GDP after the war. ‘Saturation point’: a certain income above which happiness no longer increases.
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HAPPINESS - THE SCIENCE OF HAPPINESS ( Daniel Kahneman,...

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