Skip to: Content
Skip to: Site Navigation
Skip to: Search

November 22, 2008 11:41:40 CST

Learn about Newser Points »

« Back to the grid | Next story »

How Government Can Buy You Happiness

Posted Jun 19, 08 3:30 PM CDT in Glossies,  Business 

(Newser) – While the jury's still out on whether money can buy happiness, a higher gross domestic product certainly doesn't. In rich countries, well-being really does depend on non-material things like family stability, a friendly community, and job security—and economists should start incorporating quality-of-life issues into policy, John Cassidy writes in Portfolio.

Governments' primary economic goal has long been maximizing the gross domestic product—but a $100 boost in the average Jamaican's income bumps up their measured happiness three times more than the same raise in the US. So while developing countries should fight poverty through economic growth for now, the West should "supplement GDP with other measures of progress."

Source Portfolio

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Downturns Spark 'Witch Hunts' Against Elderly

    Sep 20, 08 8:07 PM CDT
    Downturns Spark 'Witch Hunts' Against Elderly "Witch-hunting” is a hot term these days as angry Wall Street investors pine for revenge—but in some countries they take it literally, Tim Harford writes in Slate. In Tanzania, Bolivia, and India, elderly women are often targeted as witches when resources are scarce. Tanzanian women are killed by their own families: "The machete is the weapon of choice," Harford writes.
    More »

  • GDP Grew More in Q2 Than First Reported

    Aug 28, 08 12:06 PM CDT
    GDP Grew More in Q2 Than First Reported GDP growth was higher than initially reported in the second quarter, the Wall Street Journal reports. Commerce Department revisions put the increase at a seasonally adjusted 3.3% annual rate—the original estimate was 1.9%. Businesses decreased their inventories less than previously thought. At the same time, exports rose more than thought, while imports fell more.
    More »

  • Stocks Fall on Economic Reports

    Jul 31, 08 3:19 PM CDT
    Stocks Fall on Economic Reports Stocks fell today as worrying economic reports put an end to a 2-day rally, MarketWatch reports. Financials slipped, and energy stocks took a hit as Exxon’s record profit failed to meet analysts' expectations and crude prices continued to fall. The Dow dropped 204.69 to 11,379.00. The Nasdaq, relatively insulated from financials and energy, fell only 4.17 to 2,325.55, while the S&P 500 tumbled 16.86 to close at 1,267.40.
    More »

  • '08 Subprime Fallout: At Least 1.4M Foreclosures

    Nov 27, 07 11:02 CST
    '08 Subprime Fallout: At Least 1.4M Foreclosures The subprime mortgage fallout will continue through 2008, with 1.4 million Americans facing foreclosure, municipalities losing more than $6.6 billion in taxes, and housing values plummeting up to 16%, says a US Conference of Mayors report out today. The analysis projects slowed GDP growth and consumer spending and a rebound in 2009, the Journal reports. More »

  • Growing African Economies Could Lessen Poverty

    Nov 14, 07 3:52 PM CST
    Growing African Economies Could Lessen Poverty The growth of Africa's economy over the past 10 years is strong enough to "put a dent in a dent in poverty," according to a World Bank report. Growth over the past decade has averaged 5.4%, but more foreign investment is needed to keep that going. The report credits economic and governmental reforms for the good news. More »

Does having more money make you more or less happy?   (Shutterstock)
The fact that income is relative means that, as it rises, its proportional impact on happiness goes down.   (Shutterstock)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 2)

Tags

poverty • economics • GDP • economic growth • happiness


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »