Summer Research Projects

Should economists care about happiness?

Erik Johnson

Are you happy today? It is a question that resonates with each of us. Although we may each seek happiness through different means, we all think about it in some capacity. But, should economists care about happiness? Over the past half-century, most economists have focused on progress indicators such as income and Gross Domestic Product (GDP). What if improvement in these indicators is not bringing about an improvement in overall well-being? In my research I am assessing how well GDP explains happiness in comparison with indices such as the Genuine Progress Index (GPI) and the UN’s Human Development Index. I also hope to develop new approaches that policy-makers can take to improve overall well-being. These results should answer the question of whether economists should be more concerned with happiness.

Read more.