What do happy people choose: rapid economic growth or stable economy?
Document Type
Article
Publication Date
2012
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.
Recommended Citation
Beja Jr., Edsel L., 2012. "What do happy people choose: rapid economic growth or stable economy?," MPRA Paper 38851, University Library of Munich, Germany.
