The economics of happiness or happiness economics is the quantitative and theoretical study of happiness, positive and negative affect, well-being, quality of life, life satisfaction and related concepts, typically combining economics with other fields such as psychology and sociology. It typically treats such happiness-related measures, rather than wealth, income or profit, as something to be maximized. The field has grown substantially since the late 20th century, for example by the development of methods, surveys and indices to measure happiness and related concepts. Its findings have been described as a challenge to the economics profession.
Read more about Happiness Economics: Subject Classification, Metrology, Indices, Neo-classical Economics, Criticism
Famous quotes containing the words happiness and/or economics:
“Combining paid employment with marriage and motherhood creates safeguards for emotional well-being. Nothing is certain in life, but generally the chances of happiness are greater if one has multiple areas of interest and involvement. To juggle is to diminish the risk of depression, anxiety, and unhappiness.”
—Faye J. Crosby (20th century)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)