HAPPINESS AND ECONOMIC GROWTH: LESSONS FROM DEVELOPING COUNTRIES torrent

Author: Andrew Clark, Claudia Senik
Edition: 1 edition
Publication Date: January 13, 2015
Publisher: Oxford University Press
ISBN-10: 0198723652
ISBN-13: 978-0198723653
Pages: 240 pages
Format: pdf
Size: 4.1M

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This volume, arising from a PSE-CEPREMAP-DIMeco conference, includes contributions by the some of the best-known researchers in happiness economics and development economics, including Richard Easterlin, who gave his name to the `Easterlin paradox` that GDP growth does not improve happiness over the long run. Many chapters underline the difficulty of increasing well-being in developing countries, including China, even in the presence of sustained income growth. This is notably due to the importance of income comparisons to others, adaptation (so that we get used to higher income), and the growing inequality of income. In particular, rank in the local income distribution is shown to be important, creating a beggar-thy-neighbour effect in happiness. Wealth comparisons in China are exacerbated by the gender imbalance, as the competition for brides creates a striking phenomenon of conspicuous consumption on the housing market.

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