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What If Economic Health Was Measured on the Basis of Gross National Happiness?

Jeff Nelder

In fact, this is exactly what a growing number of “happiness” economists think about. Traditionally, economists assist policymakers in deciding how to make tough policy tradeoffs by trying to put a monetary value on people’s preferences: how much taxpayer money they should spend to, say, make the air a bit cleaner or the crime rate lower. Happiness economists are taking a slightly different approach. They put a happiness value on people's preferences.

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