Important Economists

Economists that Focus on Happiness in Economics

Richard Layard

Happiness: Has Social Science a Clue?

• Lecture 1:
  • "To understand how the economy actually affects our well-being, we have to use psychology as well as economics"
  • "despite economic growth, happiness in the West has not grown in the last 50 years"
  • focuses on the underlying happiness
  • "In the standard economic model, private actions and exchanges get us to a Pareto optimum where no one could be happier without someone else being less happy"
  • "The higher the real wage, the happier the population"

Important Graphs! Richard Layard Lecture 1

Richard Layard Lecture 2

Richard Layard Lecture 3