![]() That, at any rate, is the complaint of the British economist Lord Richard Layard, whose Happiness: Lessons from a New Science, is only one of a number of recent contributions to the burgeoning field of “happiness economics.” Taking as their point of departure the observation that self-reported happiness or “subjective well being” seems not to have appreciated markedly in the principal Western countries over the past fifty years, despite steady gains in income, Layard and company advocate infusing classical economics with a strong dose of contemporary psychology to produce happier marginal returns. The market doesn’t make us happy-or at least not happy enough. ![]()
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