From the Economist, an online “conversation” in reaction to the British’s government’s recent decision to look at the happiness of its people.
I like what this Harvard economics professor had to say, but if you’re really into happiness economics, the entire post is a must-read. (Thanks, Sonam!)
WE KNOW how to measure economic growth relatively well, but economic growth omits many factors—like the environment, crime, and health—that almost everyone would want to take into account when judging a society’s over-all success. Economic growth is an imperfect measure of what we are trying to achieve. Unfortunately, we don’t know how to accurately measure human well-being – indeed, philosophers, economists, priests, politicians, and other social observers don’t agree on what human well-being even is.