Book Reviews
Timothy W. Guinnane of Yale University reviews “Contours of the World Economy, 1-2030 AD: Essays in Macro-Economic History” by Angus Maddison,. The EconLit Abstract of the reviewed work begins “Revised and extended edition examines methods of measuring happiness, focusing on subjective measures as a proxy for welfare and well-being. Discusses the analysis of income satisfaction with an application to family equivalence scales; domain satisfactions; the aggregation of satisfactions--general satisfaction as an aggregate; political satisfaction; males, females, and households; the impact of past and future on present satisfaction; the influence of the reference group on our norms; health and subjective well-being; the effects of climate on welfare and well-being--external effects; how to find compensations for aircraft noise nuisance; taxation and well-being; subjective income inequalities; a generalized approach to subjective inequalities; poverty; and multidimensional poverty. Van Praag is at the University of Amsterdam, the Tinbergen Institute, and SCHOLAR. Ferrer-i-Carbonell is at the Institucio Catalana de Recerca i Estudis Avancats and at the Institut d’ Analisi Economica. Index.”