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Inequality, Well-Being and Happiness in Historical Perspective

Author

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  • Hesse Jan-Otmar
  • Spoerer Mark

Abstract

Happiness research is a comparably new field of economics. Until Richard Easterlin’s seminal contribution published in 1974, most economists believed there to be a clear and positive correlation between the material standard of living and subjective well-being (or happiness). Economic happiness research has found that, although income matters, inequality, other economic and non-economic factors also play an important role in subjective well-being. Although economic happiness research usually requires longitudinal data, there has so far been no cooperation with economic history. We argue that contact between these fields might be mutually beneficial to both sides. On the one hand, economic historians are experts on historical datasets and qualitative sources and can assist economists in their quest for information prior to the 1980s. On the other hand, the results of happiness research are valuable for analyzing problems in (economic) history for which traditional economic theory has proved to be insufficient.

Suggested Citation

  • Hesse Jan-Otmar & Spoerer Mark, 2013. "Inequality, Well-Being and Happiness in Historical Perspective," Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, De Gruyter, vol. 54(1), pages 9-13, June.
    • Handle: RePEc:bpj:jbwige:v:54:y:2013:i:1:p:9-13:n:1
    DOI: 10.1524/jbwg.2013.0001
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