Tag Archives: happiness index

Ranking quality in indexes, such as happiness and quality of life is difficult, since quality must be quantified to do so in formal modeling, and quality involves subjectivity in a subject-object relationship. Even though difficult, it is worth doing in order to arrive at more comprehensive understanding of economics, which is supposedly about satisfaction ("utility") in a Utilitarian paradigm.Sixth ToneThis is China's happiest cityBibek Bhandari See also US News & World ReportBest...

GDP's inventor Simon Kuznets was adamant that his measure had nothing to do with wellbeing. But too often we confuse the two. For seven decades, gross domestic product has been the global elite’s go-to number. Fast growth, as measured by GDP, has been considered a mark of success in its own right, rather than as a means to an end, no matter how the fruits of that growth are invested or shared. If something has to be sacrificed to get GDP growth moving, whether it be clean air, public...