Happiness and Economics: How the Economy and Institutions Affect Human Well-Being

Princeton University Press
Free sample

Curiously, economists, whose discipline has much to do with human well-being, have shied away from factoring the study of happiness into their work. Happiness, they might say, is an ''unscientific'' concept. This is the first book to establish empirically the link between happiness and economics--and between happiness and democracy. Two respected economists, Bruno S. Frey and Alois Stutzer, integrate insights and findings from psychology, where attempts to measure quality of life are well-documented, as well as from sociology and political science. They demonstrate how micro- and macro-economic conditions in the form of income, unemployment, and inflation affect happiness. The research is centered on Switzerland, whose varying degrees of direct democracy from one canton to another, all within a single economy, allow for political effects to be isolated from economic effects.

Not surprisingly, the authors confirm that unemployment and inflation nurture unhappiness. Their most striking revelation, however, is that the more developed the democratic institutions and the degree of local autonomy, the more satisfied people are with their lives. While such factors as rising income increase personal happiness only minimally, institutions that facilitate more individual involvement in politics (such as referendums) have a substantial effect. For countries such as the United States, where disillusionment with politics seems to be on the rise, such findings are especially significant. By applying econometrics to a real-world issue of general concern and yielding surprising results, Happiness and Economics promises to spark healthy debate over a wide range of the social sciences.

Read more

About the author

Bruno S. Frey is Professor of Economics at the Institute for Empirical Research in Economics in Zurich. He is the author of Economics as a Science of Human Behavior, Not Just for the Money: An Economic Theory of Personal Motivation, The New Democratic Federalism for Europe and Inspiring Economics. Alois Stutzer is a lecturer on the theory of economic policy at the University of Zurich. He has authored several papers in the fields of public choice, labor economics, and economics and psychology.
Read more

Reviews

Loading...

Additional Information

Publisher
Princeton University Press
Read more
Published on
Nov 16, 2010
Read more
Pages
232
Read more
ISBN
9781400829262
Read more
Language
English
Read more
Genres
Business & Economics / Economics / General
Read more
Content Protection
This content is DRM protected.
Read more
Read Aloud
Available on Android devices
Read more
Eligible for Family Library

Reading information

Smartphones and Tablets

Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.

Laptops and Computers

You can read books purchased on Google Play using your computer's web browser.

eReaders and other devices

To read on e-ink devices like the Sony eReader or Barnes & Noble Nook, you'll need to download a file and transfer it to your device. Please follow the detailed Help center instructions to transfer the files to supported eReaders.
Bruno S. Frey
Bruno S. Frey
Bruno S. Frey
©2017 GoogleSite Terms of ServicePrivacyDevelopersArtistsAbout Google
By purchasing this item, you are transacting with Google Payments and agreeing to the Google Payments Terms of Service and Privacy Notice.