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From Individual Wellbeing to Economic Welfare. The Scitovsky Contribution to the Explanation of a Joyless Economy

Author

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  • Viviana Di Giovinazzo

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper analyzes Tibor Scitovsky's attempt to solve the paradox of consumers' dissatisfaction in welfare societies. My research concentrate on Scitovsky's ground-breaking book, The Joyless Economy (1992a[1976]) which has been the first book to apply theories of neuropsychology to questions of consumer behavior in clear, non-technical language. When explaining the neurological basis of creative innovation, Tibor Scitovsky's The Joyless Economy apparently suggests just some devices for consumer's satisfaction; actually it lays the foundations for an economic theory where novelty is the key element to assess the utility value and knowledge is the means to gain more novelty.

Suggested Citation

  • Viviana Di Giovinazzo, 2008. "From Individual Wellbeing to Economic Welfare. The Scitovsky Contribution to the Explanation of a Joyless Economy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00650853, HAL.
    • Handle: RePEc:hal:cesptp:hal-00650853
    DOI: 10.3166/ejess.21.57-81
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    Cited by:

    1. Castellani, Marco & Di Giovinazzo, Viviana & Novarese, Marco, 2010. "Procedural rationality and happiness," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(3), pages 376-383, June.
    2. Viviana Di Giovinazzo, 2010. "Towards an alternative paradigm of consumer behavior," Working Papers 179, University of Milano-Bicocca, Department of Economics, revised Mar 2010.

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