29 Apr The art of happiness – economics and the “hedonic treadmill”
Key Points
- Despite a big rise in GDP per person, surveyed measures of happiness have been flat to falling in the US and Australia.
- Younger people in the US, Canada, Australia and NZ are the least happy age group. This is a major change from 20 years ago and may be due to the rise of social media.
- Some suggest we are on an “hedonic treadmill” and should focus on something like Gross National Happiness.
- Such an approach would have major implications for investors, but it’s doubtful it would improve happiness.
