Income and Happiness:From Economics to Social Psychology
Fengjun Zhao
Abstract
Fengjun Zhao
Abstract
Some evidence shows that raising per capita income doesn't increase people's happiness,which is contradict with traditional absolute income-utility theorem.But inducting the comparative income-utilty maybe lead to no means to the economy increasing.In order to solve this problem,we can introduce comparison income theory.But the solution is so dangerous that we have to look for another way.What's more,if social policies' aim is to realize the greatest happiness of most people,we should pay more attention to increasing people's happiness than economic growth.
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Some evidence shows that raising per capita income doesn't increase people's happiness,which is contradict with traditional absolute income-utility theorem.But inducting the comparative income-utilty maybe lead to no means to the economy increasing.In order to solve this problem,we can introduce comparison income theory.But the solution is so dangerous that we have to look for another way.What's more,if social policies' aim is to realize the greatest happiness of most people,we should pay more attention to increasing people's happiness than economic growth.
Key concepts: Happiness, Economics, Order (exchange), Basic income, Per capita income, Income in kind, Public economics, Income distribution