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How Can I Increase My Happiness?

In: An Economist’s Lessons on Happiness

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  • Richard A. Easterlin

Abstract

The basic formula is simple: More time devoted to things like family life and health and less time to the pursuit of money. Curtailing comparisons with others’ lifestyles helps, too, but is more difficult. The benchmarks for different aspects of life are the key. Because people’s incomes mostly rise in concert as the economy grows, the benchmark for evaluating one’s economic situation, which is shaped primarily by comparisons with others, rises in step with income, leaving happiness unchanged. Contrastingly, the benchmarks for evaluating family life and health are usually rooted in one’s past experience and are fairly fixed. Hence, improvements in family life and health typically increase happiness, while higher income does not.

Suggested Citation

  • Richard A. Easterlin, 2021. "How Can I Increase My Happiness?," Springer Books, in: An Economist’s Lessons on Happiness, chapter 6, pages 51-56, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-61962-6_6
    DOI: 10.1007/978-3-030-61962-6_6
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