Economics and Happiness Research: Insights from Austrian and Public Choice Economics
HAPPINESS AND PUBLIC POLICY: THEORY, CASE STUDIES, AND IMPLICATIONS, Yew-Kwang Ng, Lok-Sang Ho, eds., Palgrave Macmillan, 2006
Posted: 6 Mar 2006
Over the past decade, economists have increasingly focused on happiness research. The main focus has been on understanding the interconnection between economic outcomes and the resulting happiness of economic actors. The work in this area has yielded many implications for policy in a number of areas, including public finance (government expenditure and taxation), welfare policy and labor law. This chapter will critically reexamine the happiness and economics research program and the resulting policy implications through an Austrian/Public Choice lens. It is our contention that the main insights of these schools of thought have been neglected in this area of research.
Keywords: Behavioral Economics, Economics and Happiness, Austrian Economics, Public Choice
JEL Classification: Z00, H19
Suggested Citation: Suggested Citation