Need for Growth: Happiness

This lecture explores the relationship between economic growth and happiness, questioning the necessity of growth for well-being, social and financial stability, employment, inequality reduction, and poverty alleviation. It analyzes data on life satisfaction and GDP per capita, showing that life satisfaction does not necessarily increase with GDP. The lecture also discusses the Easterlin Paradox, which reveals that life satisfaction in the USA stagnated despite economic growth. Furthermore, it examines the levels of income at which life satisfaction plateaus and the impact of income on positive and negative affect. The presentation concludes by highlighting that some low-income countries achieve high health performance at low cost, emphasizing the complex relationship between income, life satisfaction, and well-being.