Should governments pursue happiness rather than economic growth?

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!)

It’s not an either-or choice
David Laibson wrote on Nov 29th 2010, 16:12 GMT

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.

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