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Lessons from the economics of happiness × People’s happiness does not entirely depend on their absolute wealth but is a function of the people around them. Research has found that happy people actively seek to spend time with their families, friends and build meaningful social relationships. The origin of happiness in economics can be traced back to the commencement of the “utilitarian” approach by philosopher Jeremy Bentham. Hence, when economists impart their views on happiness, they use the technical term “utility” which measures the total satisfaction derived from consuming go...

Dying in the streets: the homeless population is growing older and sicker The number of elderly homeless is expected to triple by the end of this decade Tracy Larue, 48, stands next to the personal belongings of an elderly homeless man she said she knew was found dead early Wednesday morning under Interstate 45 and Harwood Street in Dallas, Wednesday, January 17, 2018. (David Woo / Staff Photographer) “These people are dying in the streets.” That’s how Wayne Walker, executive director of OurCalling homeless ministry, described the situation facing Dallas’s aging homeless population la...

Happiness, on average, has several peaks and troughs over the course of a life Credit: Joseph Carrington Richard Easterlin is often referred to as the father of happiness economics, which makes it all the more amusing when his new book suggests that parenthood, as per the research, has an “ambivalent or even negative impact” on wellbeing. Fathering the field, he confirms, is a source of pride. But what about fathering actual children? Unfortunately for Prof Easterlin, his daughter Nancy, also a Prof Easterlin, is on the video call too. Nancy, an interdisciplinary scholar at the University...