Carol Graham
Insights on Development from the Economics of Happiness
Brookings Institution|University of Maryland, College Park
literature economics happiness developed economies finds discrepancies reported measures wellbeing income measures one socalled easterlin paradox average happiness levels increase countries grow wealthier article explores paradoxand survey research reported wellbeing generalcan provide insights gaps standard measures economic development individual assessments welfare analysis research reported wellbeing latin america russia finds notable discrepancies respondents assessments wellbeing income expenditurebased measures accepting wide margin error types measures article posits taking discrepancies account may improve understanding development outcomes providing broader view wellbeing income expenditurebased measures alone suggests particular areas research reported wellbeing potential contribute yet article also notes interpretations happiness researchpsychologists set point theory particularmay quite limited application development questions cautions direct translation results happiness surveys policy recommendations