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Economics, data and the real world

The economics of happiness

Economic development is often measured by increases in gross domestic product (GDP) or gross national income (GNI) per capita, but is this the best way to measure progress? In this article, Edward Cartwright looks at the economics of happiness and the lessons we can learn in measuring development

You can find answers to the questions in this article at www.hoddereducation.co.uk/economicreviewextras

What is the purpose of life? This is a question that economists would ideally like to avoid and leave to philosophers and others to debate and argue over. Economics, however, fundamentally involves the study of human behaviour and that means it is vital we understand the preferences that underpin that behaviour. This means questioning what makes people happy.

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Economics, data and the real world

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