Description

Executive Summary

"Happiness research" studies the correlates of
subjective well-being, generally through survey
methods. A number of psychologists and social
scientists have drawn upon this work recently to
argue that the American model of relatively limited
government and a dynamic market economy
corrodes happiness, whereas Western European
and Scandinavian-style social democracies promote
it. This paper argues that happiness
research in fact poses no threat to the relatively
libertarian ideals embodied in the U.S. socioeconomic
system. Happiness research is seriously
hampered by confusion and disagreement about
the definition of its subject as well as the limitations
inherent in current measurement techniques.
In its present state happiness research
cannot be relied on as an authoritative source for
empirical information about happiness, which, in
any case, is not a simple empirical phenomenon
but a cultural and historical moving target. Yet,
even if we accept the data of happiness research at
face value, few of the alleged redistributive policy
implications actually follow from the evidence.
The data show that neither higher rates of government
redistribution nor lower levels of income
inequality make us happier, whereas high levels of
economic freedom and high average incomes are
among the strongest correlates of subjective well-being.
Even if we table the damning charges of
questionable science and bad moral philosophy,
the American model still comes off a glowing success
in terms of happiness.