Homo Economicus and Happiness: Towards More Sustainable Development

Martin Binder

Chapter Chapter 8 in The Economics of Happiness, 2019, pp 171-191 from Springer

Abstract: Abstract Sustainable development is often seen through the lens of the standard income-based welfare framework which neglects insights from the “Beyond GDP” debate. This chapter suggests ways in which a subjective well-being framework can enrich sustainability economics. Drawing on Richard Easterlin’s insights and replacing homo economicus with homo felix in theories of sustainable behaviour does not prompt excessive consumerism but rather fosters concerns for altruism and justice in regard to future generations and nature. On the micro-level, individuals derive lasting well-being from doing good and leading responsible, sustainable lifestyles. On the societal level, policy-makers can use a subjective well-being framework to more coherently incorporate ideas of sustainable development, civic consumerism and well-being.

Keywords: subjective well-being; Sustainability; Beyond GDP; Sustainable development (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-15835-4_8

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DOI: 10.1007/978-3-030-15835-4_8

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