Happiness economics
Study of happiness and quality of life / From Wikipedia, the free encyclopedia
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The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being,[1] life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health. It typically treats subjective happiness-related measures, as well as more objective quality of life indices, rather than wealth, income or profit, as something to be maximized.
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The field has grown substantially since the late 20th century, for example by the development of methods, surveys and indices to measure happiness and related concepts,[2] as well as quality of life. Happiness findings have been described as a challenge to the theory and practice of economics.[3] Nevertheless, furthering gross national happiness, as well as a specified Index to measure it, has been adopted explicitly in the Constitution of Bhutan in 2008, to guide its economic governance.