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Happiness, environmental protection and market economy

Author

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  • Sándor Kerekes

    (Corvinus University of Budapest Department of Environmental Economics and Technology Budapest Hungary)

Abstract

The manufacturing sector is leaving the West for Asia’s low wages and good working culture. Europe would be better off keeping these manufacturing activities, slowing down wage inflation and what is more, letting a young, cheaper workforce from the East settle down within their borders. This would aid in preserving the diverse economic structure which has been characteristic for Europe.Beside the economic growth there are two more concepts which have turned into the “holy cows” of economics during the last fifty years. One is the need to constantly improve labor productivity and the other is increasing competitiveness of nations. The high labor productivity of some countries, induces severe unemployment in the globalized world. In the other hand it is high time we understood that it is not competition, but cooperation that brings more happiness to humanity.Should we still opt for “happiness” and “sanity”, it is quite obvious that we all should, in economists’ terms, define our individual welfare functions corresponding to our own set of values, staying free from the influence of media, advertisements and fashion. The cornerstone to all this is the intelligent citizen who prefers local goods and services.

Suggested Citation

  • Sándor Kerekes, 2011. "Happiness, environmental protection and market economy," Society and Economy, Akadémiai Kiadó, Hungary, vol. 33(1), pages 5-13, April.
    • Handle: RePEc:aka:soceco:v:33:y:2011:i:1:p:5-13
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    Citations

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    Cited by:

    1. Stefano Di Bucchianico & Federica Cappelli, 2021. "Exploring the theoretical link between profitability and luxury emissions," Working Papers PKWP2114, Post Keynesian Economics Society (PKES).
    2. Lu Feng & Qimei Wu & Weijun Wu & Wenjie Liao, 2020. "Decision-Maker-Oriented VS. Collaboration: China’s Public Participation in Environmental Decision-Making," Sustainability, MDPI, vol. 12(4), pages 1-24, February.

    More about this item

    Keywords

    labor productivity; quality of life;

    JEL classification:

    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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