Unit 3: Happiness Indicators Flashcards
What are some common characteristics of happier people
Happier people are healthier, more productive, and more resilient to shocks (ex. unemployment)
What do modern measures of human well-being assess?
Modern measures of human well-being assess both how we feel on a day-today basis and how we think about life in an overall sense
Why is well-being/happiness important beyond the individual who experiences it? In other words, how does individual happiness benefit society as a whole?
Measuring human well-being would strengthen other indicators (ex. education attainment, wealth). Determining “happiness impact” of range of indicators/policy objectives, allowing a more joined-up approach to decision-making at all levels. Happiness would improve productivity, health, and other good things. – Ultimately it increases GDP/economic growth
Explain the role money plays in an individual’s happiness?
You need some money to be happy (to not be under the poverty line), but at a certain point extra money doesn’t increase happiness
Noric countries are consistently at the top of the world in happiness rankings. What might explain why these countries are happier than other parts of the world?
Nordic countries have a sense of community/understanding in the common good
The U.S has experienced a decline in recent years. What are some possible reasons for this?
People are becoming more mean spirited and less generous, and the American government is becoming more corrupt, with inequality rising. A lack of hope leads to addictions/suicides. Many people aren’t doing what they love— causing unhappiness
How should society distribute income among its citizens, and what’s an economic policy that can be implemented to make your vision a reality?
Society should distribute income roughly evenly, or evenly enough to be able to meet peoples’ needs. And everyone should have enough income to be above the poverty line, and are able to meet basic survival needs. They can focus on things/activites that make them happy. the wealth tax can be implemented bcuz, excess wealth isn’t benefiting wealthy ppl in increasing their happiness, but can be redistributed to those struggling below the poverty. Thus, erasing inequality.
