{"id":1880,"date":"2021-03-17T16:49:00","date_gmt":"2021-03-17T23:49:00","guid":{"rendered":"https:\/\/dornsife.usc.edu\/news\/stories\/famed-economist-helps-us-know-how-to-be-happy\/"},"modified":"2024-12-20T09:35:08","modified_gmt":"2024-12-20T17:35:08","slug":"economist-explores-how-to-be-happy","status":"publish","type":"post","link":"https:\/\/dornsife.usc.edu\/news\/stories\/economist-explores-how-to-be-happy\/","title":{"rendered":"Famed economist helps us know how to be happy"},"content":{"rendered":"\n\n\n    \n                                \n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--article-hero \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--article-hero\"\n    \n      >\n\n    \n<div class=\"inner-wrapper\">\n          \n<div class=\"f--field f--image\">\n\n    \n    \n    \n    \n    \n    \n              \n      <img\n                            data-src=\"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2023\/04\/story-3426-768x432.jpg\"\n          data-srcset=\"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2023\/04\/story-3426-768x432.jpg 768w\"          data-sizes=\"(min-width:1200px) 75vw, (min-width:768px) 83vw, 100vw\"          class=\"lazyload\"\n        \n                  alt=\"Famed economist helps us know how to be happy\"\n        \n        \n                                      \/>\n\n    \n    \n  \n  \n\n<\/div>\n  \n      <div class=\"image-caption\">\n          \n<div class=\"f--field f--description\">\n\n    \n  A new book compiles half a century of research by economists and psychologists dedicated to understanding and improving happiness. (Image Source: iStock\/Delmaine Donson.)\n\n\n<\/div>\n    <\/div>\n  \n  <div class=\"text-wrapper\">\n          <nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\">\n        <ul>\n                      <li><a href=\"\/news\/stories\/\">News<\/a><\/li>\n                      <li><a href=\"\/news\/stories\/\/?category=faculty\">Faculty<\/a><\/li>\n                  <\/ul>\n      <\/nav>\n    \n              \n<div class=\"f--field f--page-title\">\n\n    \n  <h1>Famed economist helps us know how to be happy<\/h1>\n\n\n<\/div>\n    \n          <div class=\"subtitle\">\n            \n<div class=\"f--field f--description\">\n\n    \n  For more than half a century, USC Dornsife\u2019s Richard Easterlin has delved into the secrets of what does \u2014 and doesn\u2019t \u2014 bring us joy. <strong>[4\u00bd min read]<\/strong>\n\n\n<\/div>\n      <\/div>\n    \n           <strong class=\"author-field\"><span >By<\/span><a href=\"mailto:communication@dornsife.usc.edu\">Susan Bell<\/a><\/strong>\n    \n          <span class=\"post-date-field\">March 17, 2021<\/span>\n      <\/div>\n<\/div>\n\n\n  <\/div><\/div>\n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--social-share \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--social-share\"\n    \n      >\n\n    \n  <div class=\"content-wrapper\">\n    <span class=\"a2a_kit a2a_kit_size_32 addtoany_list\" style=\"line-height: 32px;\">\n      <span class=\"title\">\n        Share\n      <\/span>\n                        <a class=\"a2a_button_copy_link\" target=\"_blank\" href=\"\/#copy_link\" rel=\"nofollow noopener\" title=\"Link\">\n            <span class=\"a2a_svg a2a_s__default a2a_s_copy_link\">\n              <svg height=\"19\" viewBox=\"0 0 19 19\" width=\"19\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"m7.43475275 9.52380952-2.17490843 2.26076008c-1.08745421 1.058837-1.68841575 2.518315-1.68841575 4.0350275 0 1.5167124.60096154 2.9475732 1.68841575 4.0350274 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xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"m8.14285714 9.42857143c-.17142857 0-.34285714 0-.51428571.08571428l7.28571427 6.34285719c.3428572.2571428.6857143.2571428.9428572 0l7.2857142-6.34285719c-.0857142-.08571428-.2571428-.08571428-.4285714-.08571428zm-1.28571428 1.11428567v.1714286 8.5714286c0 .6857143.6 1.2857143 1.28571428 1.2857143h14.57142856c.6857143 0 1.2857143-.6 1.2857143-1.2857143v-8.5714286c0-.0857143 0-.0857143 0-.1714286l-7.2 6.3428572c-.7714286.6857143-1.8857143.6857143-2.6571429 0z\" fill-rule=\"evenodd\" transform=\"translate(-6 -9)\"\/><\/svg>\n            <\/span>\n            <span class=\"a2a_label visually-hidden\">Email<\/span>\n          <\/a>\n                  <\/span>\n  <\/div>\n\n  <\/div><\/div>\n \n\n\n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--rich-text \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--rich-text\"\n    \n      >\n\n    \n      \n<div class=\"f--field f--wysiwyg\">\n\n    \n  <p>Winning millions on the lottery, landing that dream job, finding love, having a family, traveling the world: We all entertain thoughts of the life changes that we believe would bring us greater happiness.\u00a0<a href=\"https:\/\/dornsife.usc.edu\/news\/stories\/3120\/are-we-looking-for-happiness-in-all-the-wrong-places\/\">But would they?<\/a><\/p>\n<p>It turns out that an economist can give us the answers. University Emeritus Professor of <a href=\"https:\/\/dornsife.usc.edu\/econ\/about-us\/\">Economics<\/a> <a href=\"https:\/\/dornsife.usc.edu\/cf\/econ\/econ_faculty_display.cfm?Person_ID=1003221\">Richard Easterlin<\/a> at the USC Dornsife College of Letters, Arts and Sciences, has devoted more than 50 years to researching happiness.<\/p>\n<p>His new book, <em>An Economist\u2019s Lessons on Happiness: Farewell, Dismal Science!<\/em> (Springer, 2021), is the fruit of a lifetime of his own research and that of fellow economists and psychologists dedicated to understanding and improving happiness \u2014 whether of individuals or nations.<\/p>\n<figure style=\"width: 248px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" src=\"\/wp-content\/uploads\/sites\/7\/migration-uploads\/Happiness_InStoryA-3426.jpg\" alt=\"Book cover shows a hand holding a balloon decorated with a smiling face. The title reads &quot;An Economist's Lessons on Happiness: Farewell Dismal Science!&quot; \" width=\"248\" height=\"385\" \/><figcaption class=\"wp-caption-text\">Richard Easterlin\u2019s new book sums up more than 50 years devoted to understanding what makes us happy.<\/figcaption><\/figure>\n<p>The title is an ironic reference to the fact that economics, once dubbed \u201cthe dismal science,\u201d now offers prescriptions for boosting happiness. Some of those answers are surprising \u2014 more money won\u2019t bring more happiness, neither will economic growth, while babies turn out to be a mixed blessing.<\/p>\n<p>Easterlin is the creator of the eponymous Easterlin Paradox, which states that if we look at any given point of time, on average people who have more income are happier. However, this finding is contradicted by time series data, which follows people\u2019s happiness over a length of time as their income increases.<\/p>\n<p>\u201cIt\u2019s the time series relationship that\u2019s relevant to questions like \u2018would more money make me happy?\u2019\u201d Easterlin says. \u201cYou\u2019re thinking, \u2018what\u2019s going to happen over time as I get more money, will I become happier? And the answer to that is quite consistently \u2018no.\u2019\u201d<\/p>\n<p>This seems counterintuitive, but Easterlin explains that it\u2019s all down to a psychological concept called \u201csocial comparison.\u201d<\/p>\n<p>\u201cWe make judgments about our own income based upon what others are getting, and if others are doing a lot better than us, we tend to be less happy,\u201d Easterlin says. \u201cIt\u2019s true that the increase in your own income by itself will make you happier. But what happens in practice is that, on average, as your income goes up, everybody else\u2019s goes up, and the result is that nobody is happier.\u201d<\/p>\n<p>Here, Easterlin answers 12 questions about happiness \u2014 refuting some of our preconceived notions about what makes us happy.<\/p>\n<h2>Why did you write this book now and what do you hope people take from it?<\/h2>\n<p>Basically, the book is a summation of what I\u2019ve learned teaching the economics of happiness, so retirement provided an opportunity to set it all down.\u00a0My hope\u00a0is the same as it was for my undergraduates \u2014 that it may help to make people\u2019s lives better.<\/p>\n<h2>Can happiness be measured, and if so, how?<\/h2>\n<p>Yes, surprisingly it\u2019s quite simple \u2014 we ask people to rate how happy they are. A lot of research has been done by psychologists that shows the replies are meaningful and comparable, at least for groups of people (rich and poor), not necessarily at the individual level.<\/p>\n<h2>Is there a difference between happiness and well-being?<\/h2>\n<p>I think most people do not, themselves, make a distinction. But until happiness became a subject for the social sciences, most work involved the author\u2019s prescriptions on\u00a0<em>a priori<\/em>\u00a0grounds for what constitutes \u201cThe Good Life,\u201d rather than trying to understand how people themselves viewed well-being.<\/p>\n<h2>Who is happier \u2014 women or men, young or old, rich or poor?<\/h2>\n<p>Happiness goes up and down over the life course. Women are happier early in life; men are happier at\u00a0older ages. At a point in time, the more affluent are happier.<\/p>\n<h2>Many believe more money will make them happier. Is that true?<\/h2>\n<p>The evidence is to the contrary. Incomes in the United States have tripled over the past 70 years; happiness has, if anything, declined.<\/p>\n<h2>How about finding a partner? Marriage? Children? Exercise?<\/h2>\n<p>Having a\u00a0partner,\u00a0whether one gets married or not, definitely increases happiness. The prospect of \u2014 and having \u2014 a baby initially raises happiness, but that gain tends to wear away as children grow up. Exercise that improves health will increase happiness.<\/p>\n<h2>Does religion or faith make us happier?<\/h2>\n<p>There is a positive correlation between religion and happiness, but telling people to \u201cget religion\u201d probably has no effect.<\/p>\n<h2>Which countries are happiest and why? Is wealth necessary for happiness?<\/h2>\n<p>The Nordic countries are happiest because they are welfare states that design policies dealing directly with people\u2019s foremost worries and concerns. A country does not need to be rich to be happy. Costa Rica, with an income one-fourth that of the U.S., is happier because its government has focused on policies like those in the Nordic countries.<\/p>\n<h2>What can governments do to improve happiness in societies?<\/h2>\n<p>Provide assurance of jobs and income security, assurance of health care and, more generally, policies that deal with people\u2019s most urgent worries and concerns.<\/p>\n<h2>How can we increase our happiness?<\/h2>\n<p>Briefly, spend more time on family and health, less time focused on making money.<\/p>\n<h2>Which results from your happiness research have surprised you most?<\/h2>\n<p>The contradiction between the relation of happiness to income \u2014 positive at a point in time, but a nil relation over time (now known as the Easterlin Paradox).<\/p>\n<h2>After a lifetime studying this topic, what is your top tip for increasing happiness?<\/h2>\n<p>Focus on your family; stop comparing your status to others.<\/p>\n\n\n\n<\/div>\n\n\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>For more than half a century, USC Dornsife\u2019s Richard Easterlin has delved into the secrets of what does \u2014 and doesn\u2019t \u2014 bring us joy. <strong>[4\u00bd min read]<\/strong><\/p>\n","protected":false},"author":52,"featured_media":1883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[55,111,501],"class_list":["post-1880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faculty","tag-books","tag-economics","tag-richard-easterlin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Famed economist helps us know how to be happy<\/title>\n<meta name=\"description\" content=\"For more than half a century, the USC Dornsife professor has delved into the 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