Economic Growth and Happiness

This lecture explores the relationship between economic growth and happiness, discussing the need for growth to increase well-being, social stability, financial stability, full employment, and reduce inequality and poverty. It analyzes whether happiness is correlated with GDP levels, showing that life satisfaction does not necessarily increase with higher income levels. The lecture also examines the levels of income at which life satisfaction stops rising, highlighting that some affluent countries do not have higher happiness levels. Furthermore, it compares life satisfaction and life expectancy with GDP per capita, revealing that some low-income countries achieve high health performance at low cost. The conclusion emphasizes the distinction between rich and poor countries in terms of happiness and income levels.