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Dobrobyt spoleczny w swietle ekonomii szczescia na przykladzie wy-branych panstw Unii Europejskiej

Social welfare in light of the economy of happiness based on selected European Union countries

Artur Wachowiak () and Kamil Kowalczyk ()
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Artur Wachowiak: Poznan University of Economics and Business, Poland
Kamil Kowalczyk: Poznan University of Economics and Business, Poland

Catallaxy, 2019, vol. 4, issue 1, 45-55

Abstract: Motivation: One of the basic problem in macroeconomics is issue of wealth of nations. In the past, a significant part of economists, used to identify the scale of economy, or dynamics of its growth, with the life rate. Nowadays, the evaluation of wealth of a society comes down to the rating the quality of life in a given country. In the mainstream of macroeconom-ics discourse, Gross Domestic Product (GDP), alongside with its derivatives, is used as a key method of measurement. Unfortunately, those indicators do not include a number of key aspects, that influence the wealth ratio. Be-cause of that, throughout the years a new, expanded approach and new indicators were developed, for example the Human Development Index (HDI). It seems essential to consider their cognitive value in the context of a modern approach to the economy of happiness. For this purpose, an overview of the most popular wealth and quality of life indicators was compiled, and was confronted with non-economic data considering the processes happening in societies, with a main focus being the interpreta-tional disparities, and possible different outcomes. Aim: The aim of the article is the evaluation of quality of life rate by overviewing available solu-tions and methods, and confrontation of the result with public statistic data considering the selected countries of the European Union (EU). Materials and methods: The systematic review and critical analysis of sources, aggre-gated macroeconomics data analysis and public statistics were used. Data published by Eurostat, Organisation for Economic Co-operation and Devel-opment (OECD), World Health Organization (WHO) and the World Bank were considered empirical material. Results: There are significant differ-ences in the evaluation of life quality between the indicators used in the main economics discourse and the empirical data from other studies i.e. social and medical.

Keywords: wealth; happiness; contentment; macroeconomics (search for similar items in EconPapers)
JEL-codes: E19 F59 B52 (search for similar items in EconPapers)
Date: 2019
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