Why do economists study happiness?

2017 ◽  
Vol 28 (3) ◽  
pp. 361-377 ◽  
Author(s):  
Marcin Piekałkiewicz
Keyword(s):  
Well Being ◽  
Economic Consequences ◽  
Economic Outcomes ◽  
Economic Science ◽  
Main Task ◽  
Review Of The Literature ◽  
Happiness Economics ◽  
Economic Concept ◽  
Future Income

Recently economists have expressed increasing interest in studying the determinants of happiness. Their main task has been to identify economic and non-economic sources of well-being to define policies aimed at maximising happiness in nations. As yet, it has not been precisely explained why ‘happiness economics’ is actually a part of economic science. In this article, we show that happiness can be an economic concept providing a critical review of the literature on (a) economic applications of happiness data and (b) economic consequences of happiness. Happiness data have been used to analyse microeconomic phenomena and to value non-market goods. Happiness may act as a determinant of economic outcomes: it increases productivity, predicts one’s future income and affects labour market performance. A growing number of happiness studies indicate a role of personality traits in understanding the link between well-being and economic outcomes.

The Relationship Between Social Justice Issues and Emotional Intelligence (EI)

2018 ◽  
pp. 1202-1220
Author(s):  
Misha Chakraborty ◽  
Dominique T. Chlup
Keyword(s):  
Social Justice ◽  
Emotional Intelligence ◽  
Human Resource Development ◽  
Human Resource ◽  
Well Being ◽  
Review Of The Literature ◽  
Social Oppression ◽  
The Relationship ◽  
Critical Aspects

This chapter discussed issues of injustice as often affecting the emotional, and in some cases, the physical well-being of a person. In recent years, researchers have begun to explore the role of Emotional Intelligence (EI) in creating awareness when it comes to social justice issues related to areas such as racism, sexism, heterosexism, etc. The purpose of this chapter is twofold: First, to concentrate on the area of social justice issues to find out what the literature has explored in terms of the role Emotional Intelligence (EI) might play when it comes to dealing with social oppression, and second, to advocate emotional intelligence traits that can be successfully used to cope with social oppression. We reviewed the literature as a way to deepen our understanding of how to foster “socially conscious” practices within the workplace. The chapter has implications for Human Resource Development (HRD) practitioners to remind them of the responsibility they have to encourage and welcome studies and practices addressing critical aspects such as social justice issues as a way to help ensure a productive and safe workplace. Through this review of the literature, we found that emotional intelligence traits, if practiced responsibly, can make society a better place for everyone to live and work in.

scholarly journals Theoretical foundations, practice, and empirical approaches to assessing the economy of happiness

2020 ◽  
Vol 18 (2) ◽  
pp. 33-42
Author(s):  
Hanna Vereshchahina ◽  
Fedir Shigol
Keyword(s):  
National Policy ◽  
Economic Indicator ◽  
Well Being ◽  
Spiritual Needs ◽  
Economic Science ◽  
Main Task ◽  
Level Of Satisfaction ◽  
The Social ◽  
Comprehensive Development ◽  
Favorable Conditions

Since the end of the twentieth century, a new, relevant, and promising trend in economic science has been actively developing – the economy of happiness that arose at the junction of psychology and economics. Understanding the essence and content of social well-being is associated with such a development of a society where the social and spiritual needs of people are met, the resources and benefits of society are used as effectively as possible and favorable conditions for a full-fledged life and comprehensive development of each person are created. If earlier the main task and priority of any national policy was considered an intensive GDP growth, now the GNH – Gross National Happiness is increasingly considered as a priority, that is, the level of satisfaction with the life of the population, as evidenced even in the resolution of the UN General Assembly. However, the methodological ap¬proaches to assessing the economy of happiness are not perfect, first of all because this area is new in economic science. The study aims to summarize and further develop the principles and approach¬es to assessing the economy of happiness. The article analyzes existing practical approaches to the economy of happiness. A test was developed to assess the level of happiness of citizens from different countries; a survey was conducted based on this test from 2017 to 2018. Methodical approaches to assessing the economy of happiness have been improved based on obtaining correlation-regression models that show the dependence of happiness level on creativity, level of health, level of prosperity, level of satisfaction of needs, which enables to define creativity as the main factor affecting the level of happiness; and, unlike the known ones, it allows regulating the level of happiness as a final economic indicator.

scholarly journals Overview on Well-being Theories and the Role of Individual Responsibility

2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Pedro Henrique de Morais Campetti
Keyword(s):  
Social Development ◽  
Capability Approach ◽  
Well Being ◽  
Individual Responsibility ◽  
Mainstream Economics ◽  
Happiness Economics ◽  
The Subject ◽  
Relevant Component ◽  
The Capability Approach

Abstract: This paper aims to make a theoretical review on the main approaches to Well-being and also introduce the subject of Responsibility as an element to be considered in this discussion. Thus, three theories of well-being are presented: the Mainstream Economics, the Happiness Economics and The Capability Approach. Each of them provides considerations about what matters for people’s life and social development. However, none of them contemplates individual responsibility as a relevant component for development. And only The Capability Approach takes account of responsibility, but without furthering the subject. In this sense, the theme of responsibility is defended as having an important role for development and well-being, and could be incorporated by The Capability Approach.

Engaging Vulnerable Romani Youth in Provision of Early Childhood Services

2021 ◽  
pp. 29-42
Author(s):  
Stanislav Daniel
Keyword(s):  
Early Childhood ◽  
Educational Achievement ◽  
Well Being ◽  
Early Years ◽  
Community Centers ◽  
Education Policies ◽  
Network Support ◽  
Education And Care ◽  
Future Income

In this chapter, the importance of early childhood services to the later educational achievement, well-being, and future income of Romani youth is elaborated, especially from the perspective of the roles that youth can play in supporting their younger peers. Education policies may have different consequences for young Roma who sometimes choose assimilation to avoid discrimination—sometimes without success. As a result of the cross-generational neglect of Romani ethnicity, some Romani children and youth believe that success is only part of the identity of non-Roma, while performing well at school can be perceived by Romani youth as a non-Roma behavior. Involvement of young people in the provision of early childhood education and care (ECEC) may be an answer, dealing with both the youth and the absence of non-formal ECEC. There are many approaches to building positive awareness about ethnic identity. Initiatives such as the Romani Early Years Network support greater involvement of Roma and successfully promote the idea of ECEC provided in local contexts such as homes or community centers. The role of Romani youth is irreplaceable in this work.

Impact of an Outbreak of Dengue Fever: A Case Study from Rural Puerto Rico

1997 ◽  
Vol 56 (1) ◽  
pp. 19-27 ◽  
Author(s):  
M. Torres
Keyword(s):  
Puerto Rico ◽  
Dengue Fever ◽  
Rural Areas ◽  
Methodological Approach ◽  
Well Being ◽  
Economic Consequences ◽  
The People ◽  
And Control ◽  
The Impact

This study documents the impact of an outbreak of dengue fever for the people who experienced the disease in Lares, a rural municipality in Puerto Rico. Symptomatology presented by reported cases of the fever corresponds to the clinical picture of the mild form of the dengue virus. The study utilizes a combined quantitative/qualitative methodological approach. The findings indicate that social status is a significant factor in terms of who is affected by the dengue fever. The impact of the outbreak was greater for poor communities in the urban and semi-rural areas, particularly for women who described themselves as housewives and mothers, and their children. Social expectations and the family's demands for these women to fulfill the role of caretaker superseded their own sick role. In addition, they experienced the greatest loss of time as a consequence of the outbreak. The main effect of the outbreak on work activities not traditionally remunerated with money, such as housework, was the inability of adult females in the household to perform their routine activities to maintain family life. Moreover, the monetary costs of health care absorbed a significant percentage of the household weekly income. The impact on psychological well-being was related to the stress produced by the clinical, social, and economic consequences of the outbreak for women. Implications of salient results for dengue fever prevention and control, as well as for the field of applied medical anthropology are discussed.

The Relationship Between Social Justice Issues and Emotional Intelligence (EI)

2016 ◽  
pp. 205-223
Author(s):  
Misha Chakraborty ◽  
Dominique T. Chlup
Keyword(s):  
Social Justice ◽  
Emotional Intelligence ◽  
Human Resource Development ◽  
Human Resource ◽  
Well Being ◽  
Review Of The Literature ◽  
Social Oppression ◽  
The Relationship ◽  
Critical Aspects

This chapter discussed issues of injustice as often affecting the emotional, and in some cases, the physical well-being of a person. In recent years, researchers have begun to explore the role of Emotional Intelligence (EI) in creating awareness when it comes to social justice issues related to areas such as racism, sexism, heterosexism, etc. The purpose of this chapter is twofold: First, to concentrate on the area of social justice issues to find out what the literature has explored in terms of the role Emotional Intelligence (EI) might play when it comes to dealing with social oppression, and second, to advocate emotional intelligence traits that can be successfully used to cope with social oppression. We reviewed the literature as a way to deepen our understanding of how to foster “socially conscious” practices within the workplace. The chapter has implications for Human Resource Development (HRD) practitioners to remind them of the responsibility they have to encourage and welcome studies and practices addressing critical aspects such as social justice issues as a way to help ensure a productive and safe workplace. Through this review of the literature, we found that emotional intelligence traits, if practiced responsibly, can make society a better place for everyone to live and work in.

scholarly journals The Inefficiency of the Neoclassical Paradigm in the Promotion of Subjective Well-Being and Socioeconomic, and Environmental Sustainability: An Empirical Test for the Spanish Case

2019 ◽  
Vol 11 (24) ◽  
pp. 7102 ◽  
Author(s):  
Matías Membiela-Pollán ◽  
María Alló-Pazos ◽  
Carlos Pateiro-Rodríguez ◽  
Félix Blázquez-Lozano
Keyword(s):  
Environmental Sustainability ◽  
Empirical Test ◽  
Well Being ◽  
European Social Survey ◽  
Subjective Well Being ◽  
Social Variables ◽  
Social Survey ◽  
Happiness Economics ◽  
Relevant Role

The recent literature developed in the field of happiness economics highlights the overvaluation of income and material prosperity as determinants of happiness, and calls into question many of the assumptions of traditional economic theory linked to “rationality” and the “non-satiety” of the consumer. This article aimed to study which factors explain individual subjective well-being, paying special attention to the role of income and the incidence of social variables and focusing on the case of Spain. As a novelty, this research introduces variables such as trust or the perception of justice, among others. Based on the analysis of the European Social Survey and through the estimation of an ordered logit, we find that, in line with the theory of happiness economics, the material aspects do not play a relevant role as explanatory of subjective well-being, unlike social aspects, such as sociability and trust in people (social capital). In addition, our results indicate that in the case of Spain, the most materialistic people are associated with a lower level of happiness. Thus, it seems that the excess of concern for material and economic issues in the pursuit of happiness undermines socioeconomic and environmental sustainability by causing the “wealth destruction effect”.

scholarly journals Fiscalism as Spending and Monetary Integration

2013 ◽  
Author(s):  
Masudul Alam Choudhury ◽  
Noreha Halid ◽  
Mohammed Saleh Ahmed ◽  
Mohammad Shahadat Hossain
Keyword(s):  
Social Economy ◽  
Small World ◽  
Well Being ◽  
Policy Coordination ◽  
Monetary Integration ◽  
Economic Science ◽  
Review Of The Literature ◽  
The One ◽  
Unity Of Knowledge ◽  
Economic Stabilization

Macroeconomic policy coordination and the fi eld of micro-foundation of the macroeconomic theory have been riddled with the contest of claimed effi cacy between the Keynesian school and the monetarist school. Keynesianism upheld the predominance of fi scalism (spending) in economic stabilization on the one side. Friedman’s monetarist theory vouched for the same on the other side. As a result of the monetary and fi scal contest between the two schools a convergence between them could not be att ained. Such a divide is similar in economic science as it has been a fi asco thus far in the physical sciences between Quantum Mechanics explaining the small world phenomenon, and Relativity Physics explaining the large world phenomenon. The nonhomogenous views of a unique reality in economics, as in science, have defied the unifi cation of theories and application for the greater objective of wellbeing in an embedded social economy, beyond sheer address of the stabilization question. Our paper strides out in the new direction of a socioscientific epistemological worldview of the unifi cation of monetary and fi scal (spending) regimes in a consolidated theory of complementarities between them. The paper does this by breaking new grounds that are based on the model of organic unity of knowledge, which acts upon the simulation of well being with the method of circular causation. A review of the literature and introduction of formalism are undertaken to expound the theme of economic stabilization by means of complementing monetary and fi scal (spending) regimes in a unifi ed theory, while addressing the simulation of well-being in a learning model of unity of knowledge. The emergent methodology presents the description of a system of inter-variables circular causation relations. An extensive review of the literature is undertaken. An empirical presentation and a case study establish the validity of the well-being model with circular causation.   Keywords: Monetary and spending regimes, epistemology and economics, economic stabilization, well-being.

scholarly journals Changes in fertility plans during the COVID-19 pandemic in Italy: the role of occupation and income vulnerability

2021 ◽  
Author(s):  
Bruno Arpino ◽  
FRANCESCA LUPPI ◽  
Alessandro Rosina
Keyword(s):  
Fertility Intentions ◽  
Economic Consequences ◽  
Lower Probability ◽  
Economic Uncertainty ◽  
Cross Sectional ◽  
Heterogeneous Effects ◽  
Direct Question ◽  
Income Shock ◽  
Future Income

The health and economic crisis generated by the COVID-19 pandemic is unprecedented in recent human history. We investigate the role of objective and subjective indicators of economic uncertainty due to the COVID-19 crisis in young Italians’ fertility plans during the year 2020. We use unique repeated cross-sectional data, collected at different time points during the pandemic (March and October/November 2020) together with pre-COVID data (2016). The data offer a standard fertility intention question pre- and during-COVID, and also a direct question on whether pre-COVID fertility plans have been confirmed, postponed or abandoned. We find that individuals with more vulnerable occupations show a lower probability of definitely intending to have a(nother) child in the short-term and a higher probability of having abandoned their pre-COVID fertility plan in March 2020, while in October 2020 changes in fertility plans did not vary by occupation. Instead, those who suffered from a negative income shock and those with negative expectations on their future income and occupation are more likely to abandon their pre-pandemic fertility plan compared to their better off counterparts, and these differences hold both in March and October. Overall, economic uncertainty generated by the pandemic seems to have similarly affected men and women’s fertility intentions. Our findings point to the fact that the unequal economic consequences of the pandemic also produced and will produce heterogeneous effects on fertility intentions.

Psychological Capital in the prediction of Higher Education Teachers’ Well-being: Motivation as a Mediator: A Review of the Literature

2020 ◽  
Vol 10 (1) ◽  
pp. 77
Author(s):  
Girum Tareke Zewude ◽  
Maria Hercz
Keyword(s):  
Positive Psychology ◽  
Psychological Capital ◽  
Educational Practice ◽  
Well Being ◽  
Human Potential ◽  
Review Of The Literature ◽  
Positive Psychological Capital ◽  
Work Related ◽  
Wide Range

The main aim of this review of the literature concerns the role of positive psychological capital on teachers’ well-being, and it proposes a new teachers’ well-being model which will be applicable in an educational context and based on the recommendation of earlier studies using a positive psychology capital. The analyses of this study are based on some of the prominent-suggested critiques in teachers’ well-being, its construct and assessment. It reviews the literature using a wide-range of diverse studies on teachers’ well-being in elementary and secondary school focused on the pathological lens and healing specific disorders under a variety of life-threatening conditions across cultural contexts. Seligman and colleagues criticised that psychologists gave much prominence to mental disorders and pathologies, overlooking two crucial missions of the field of psychology: (a) helping healthy people to be happier and more productive, and (b) actualising human potential. Workplaces and educational institutions have been greatly influenced by this paradigm shift beyond other areas and positive psychology. Depending on this purpose, and based on the literature gap and relevance of the issues, this study used a theoretical model by  Luthans; Youssef & Avolio (2007)is known as Psychological capital; hedonism well-being of E. Diener (2009a); and Collie R., Shapka, J., Perry, N., & Martin(2015) work-related well-being. Depending on the purpose of this review, the first section provides different empirical pieces of evidence on positive psychological capital (hope, self-efficacy, resilience, and optimism) on teachers’ well-being highlighted. The third section focuses on psychological capital, and each component is discussed. The fourth section emphases the mediation role of motivation. The fifth section provides the link between psychological capital and teachers’ well-being; it discusses the results of relevant research findings. Section six presents the theoretical framework of this study. Since the positive psychological structure is an inclusive model that considers/melds/compresses theoretical and practical aspect, and it has been developed for different organisations, it can be considered as a potential enhancement mechanism of different psychological and work-related problems at the workplace. Lastly, the present study contributes to the further development of a solid, still missing, theory on comprehensive teachers’ well-being, and suggests its implications for educational practice.

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