What do happy people choose: rapid economic growth or stable economy?

Edsel L. Beja

MPRA Paper from University Library of Munich, Germany

Abstract: How SWB affects individual states, outcomes, or decisions is well established in the literature, but how it affects macroeconomic states, outcomes, or decisions remains an open empirical question. This paper focuses on the public policy issue of economic progress defined as either rapid economic growth or stable economy. Results indicate a negative relationship between high SWB and choice for rapid economic growth or stable economy. This conclusion holds for people in the upper-income and middle-income countries, but not so for people in the low-income countries. In fact, results suggest that people in the low-income countries attend less to either rapid economic growth or stable economy regardless of their SWB.

Keywords: Happiness, subjective well-being; economic policy (search for similar items in EconPapers)
JEL-codes: B50 D00 D70 E60 I31 (search for similar items in EconPapers)
Date: 2012-05-17
New Economics Papers: this item is included in nep-cwa, nep-evo, nep-fdg and nep-pol
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:38851

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