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  • 22 Economic Growth

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    Rashik Rayat
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    The document discusses economic growth and its relationship to individual well-being. It notes that research has found that higher incomes correlate with greater happiness only up to a certain income level of around $75,000 annually. Beyond that, higher incomes do not necessarily lead to higher levels of emotional well-being or life satisfaction. The document also examines arguments that GDP growth should not be the sole policy focus and that countries should also consider citizens' overall well-being. It reviews studies on the factors that contribute to individual happiness and national well-being.

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    The document discusses economic growth and its relationship to individual well-being. It notes that research has found that higher incomes correlate with greater happiness only up to a certain income level of around $75,000 annually. Beyond that, higher incomes do not necessarily lead to higher levels of emotional well-being or life satisfaction. The document also examines arguments that GDP growth should not be the sole policy focus and that countries should also consider citizens' overall well-being. It reviews studies on the factors that contribute to individual happiness and national well-being.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    4 views24 pages

    22 Economic Growth

    Uploaded by

    Rashik Rayat
    The document discusses economic growth and its relationship to individual well-being. It notes that research has found that higher incomes correlate with greater happiness only up to a certain income level of around $75,000 annually. Beyond that, higher incomes do not necessarily lead to higher levels of emotional well-being or life satisfaction. The document also examines arguments that GDP growth should not be the sole policy focus and that countries should also consider citizens' overall well-being. It reviews studies on the factors that contribute to individual happiness and national well-being.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 24

    20 Economic Growth.

    notebook January 29, 2024

    https://www.ft.com/content/9356feb6­437c­11ea­abea­0c7a29cd66fe

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    https://www.ft.com/content/a245eef4­3a5e­11ea­a01a­bae547046735

    https://www.ft.com/content/829eba02­3916­11ea­a6d3­9a26f8c3cba4

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    https://www.telegraph.co.uk/news/2023/01/31/britains­best­start­ups­poached/

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    In 2010, research by Nobel prize­winning economist Daniel Kahneman and his


    Princeton colleague Angus Deaton found that people tend to feel happier the
    more money they make ­ but only up to a certain point.

    Their study concluded that when bringing in above $75,000 (£60,000) annually,
    people’s emotional wellbeing ­ or how they feel on a daily basis ­ does not
    improve.

    "High incomes don't bring you happiness, but they do bring you a life you
    think is better," the economists concluded.

    ONS Wellbeing report 2021 (Post COVID)

    https://www.theguardian.com/politics/2019/may/24/wellbeing­should­replace­growth­as­main­aim­of­uk­spending

    https://www.theguardian.com/business/2019/jun/06/imf­tells­us­record­growth­is­costing­average­citizens­dear

    https://www.theguardian.com/business/2018/dec/03/gdp­wellbeing­health­education­environment­joseph­stiglitz

    https://www.theguardian.com/commentisfree/2019/jun/10/uk­obsessing­gdp­wellbeing­new­zealand

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    Telegraph 13/09/06

    In 2011, the economist Barry Eichengreen


    identified $17,000 as the per capita income at
    which the transition to slower growth begins.

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    Attachments

    UK GDP.GIF

    UK GDP shrinks

    Pension age

    Happiness measuring

    Difficultiy of measuring happiness

    Hysterisis + Chart Flanders

    Hysterisis.jpg

    GDP fan chart.jpg


    Labour inactivity

    AAA credit rating and growth Stephanie Flanders

    Peston Lecture Speech ­ The Great Stagnation ­ S Wadhwani .pdf

    Big Mac index.gif

    Trend growth UK

    Pre crisis growth

    Is Qatar happy?

    Has wealth made Qatr happy?

    UK GDP 2003­2014.png

    Does money make you mean?

    Can Uk have high National Debt?

    Environment vs. growth ­ China

    FDI in UK

    FDI to UK falls 2015

    Wealth of those in 30's halved

    Happiness study by LSE 2016

    B of E unlikely to be able to forecast recession

    Time to change GDP? FT Jan 2018

    Stiglitz on Growth vs. Living Standards

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