Happiness and Economics - The Impact of Economics and Institutions on Human Well-being - Unknown Translation Library

Author: Fred
Publisher:
Publish Date: 2006-08-01
Features: The discipline of economics is closely related to human happiness, but economists have never incorporated the study of "happiness" into their work. "Happiness" is often regarded by them as a "non-scientific" concept. This book is a work that establishes empirical connections between knowledge and happiness, and happiness and democracy. The two respected economists integrate findings and unique insights from the fields of psychology, sociology, and political science into their research. The two authors confirm the direct correlation between unemployment, inflation, and misfortune, thereby arguing that the micro and macroeconomic environment, as reflected in forms such as income, unemployment, and inflation, affects happiness. The book primarily takes Switzerland as its research base, as the influence of political and economic factors on the degree of variation in direct democracy among states in Switzerland can be separated. They find that the more developed the democratic mechanisms and the higher the degree of autonomy, the greater people's satisfaction with life. While an increase in income can only marginally enhance individual happiness, institutions can enhance individuals' political participation, and such effects are more substantial. The book uses econometric methods to analyze widely concerned issues and draws unusual conclusions, while sparking fruitful debates in the field of sociology.