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Happiness and Economics: How the Economy and Institutions Affect Human Well-Being / Edition 1

Happiness and Economics: How the Economy and Institutions Affect Human Well-Being / Edition 1

Happiness and Economics: How the Economy and Institutions Affect Human Well-Being / Edition 1
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ISBN-10:
0691069980
ISBN-13:
9780691069982
Pub. Date:
12/02/2001
Publisher:
Princeton University Press
ISBN-10:
0691069980
ISBN-13:
9780691069982
Pub. Date:
12/02/2001
Publisher:
Princeton University Press
Happiness and Economics: How the Economy and Institutions Affect Human Well-Being / Edition 1

Happiness and Economics: How the Economy and Institutions Affect Human Well-Being / Edition 1

Overview

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.

Product Details

ISBN-13: 9780691069982
Publisher: Princeton University Press
Publication date: 12/02/2001
Series: Princeton Paperbacks
Edition description: New Edition
Pages: 232
Product dimensions: 6.00(w) x 9.25(h) x (d)

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.

Table of Contents

Preface vii

PART I: Setting the Stage

CHAPTER 1: Happiness 3

CHAPTER 2: Well-Being and Economics 19

CHAPTER 3: Personality and Socio-Demograohic Influences on happiness 49

PART II: Economic Effects on Happiness

CHAPTER 4: Income 73

CHAPTER 5: Employment 95

CHAPTER 6: Inflation 111

PART III: Political Effects on Happiness

CHAPTER 7: The Current Politico-Economic Process 121

CHAPTER 8: Constitution: Popular Referenda and Federalism 133

CHAPTER 9: Outcome and Process 153

PART IV: Conclusions

CHAPTER 10: Happiness Inspires Economics 171

APPENDIX A 185

APPENDIX B 191

References 195

Data Sources 215

Index 217

What People are Saying About This

Robert MacCulloch

This is a timely, excellent, insightful, and highly readable book by two authors who have an obvious command of their subject. It should become the standard reference text on the rapidly expanding academic study of happiness. It will appeal not only to a wide range of social scientists but also to a wide public audience outside academia. Bruno Frey and Alois Stutzer offer a comprehensive historical account that also reaches to the limits of our current understanding.
— Robert MacCulloch, London School of Economics

From the Publisher

"This is a first-class book. It is a great read whether you are a social scientist or just someone who wants to understand what makes human beings tick. It will even make you happy. Frey and Stutzer's timing is perfect. They have written a marvelous book just as the field is about to take off. Their scholarship is excellent; they write beautifully; the topic is important. Terrific work."—Andrew J. Oswald, Warwick University

"This is a timely, excellent, insightful, and highly readable book by two authors who have an obvious command of their subject. It should become the standard reference text on the rapidly expanding academic study of happiness. It will appeal not only to a wide range of social scientists but also to a wide public audience outside academia. Bruno Frey and Alois Stutzer offer a comprehensive historical account that also reaches to the limits of our current understanding."—Robert MacCulloch, London School of Economics

Oswald

This is a first-class book. It is a great read whether you are a social scientist or just someone who wants to understand what makes human beings tick. It will even make you happy. Frey and Stutzer's timing is perfect. They have written a marvelous book just as the field is about to take off. Their scholarship is excellent; they write beautifully; the topic is important. Terrific work.
— Andrew J. Oswald, Warwick University

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