The contrasts of happiness between third and first world countries

Franco Contreras Renata (2024) The contrasts of happiness between third and first world countries. Külkereskedelmi Kar.

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Absztrakt (kivonat)

The concept of happiness and subjective well-being is complex and multidimensional, influenced by socio-economic, cultural and psychological factors. Happiness, although subjective, has led to the emergence of the Economics of Happiness, which merges methodologies from economics and psychology to explore the relationship between economic factors and individual well-being. The study of happiness has been around for some time, going back to studies by early philosophers and economists. Important scholars like Aristotle and Adam Smith have laid groundwork for understanding happiness, it was in the 1970s that Richard Easterlin challenged the assumption of a relationship between economic growth and happiness and introduced The Easterlin Paradox. The Easterlin Paradox proposes that while happiness correlates with income at a point in time, long-term economic growth does not significantly affect long-term happiness. This is due to social comparison and hedonic adaptation, where individuals compare their income to others and adapt to changes in their circumstances over time. Despite criticisms and debates surrounding the paradox, it has contributed to questioning the traditional emphasis on economic growth as a measure of well-being. While some scholars still believe there is a positive relationship between happiness and income, and others defend the opposite, there is no concrete answer to this question yet. Besides income, it has been proved that cultural influences also play a significant role in shaping happiness levels. The Collectivism vs. Individualism dimension proposed by Geert Hofstede highlights how societal values impact happiness. While individualistic cultures, mostly present in developed countries, prioritize personal achievements and independence, collectivist cultures, present in developing countries, value social relationships and community. The field of happiness economics continues to evolve, emphasizing the importance of considering various factors beyond income to understand well-being. While income and economic growth are important, they do not guarantee happiness. This research challenged the assumption that higher GDP leads to higher happiness levels across countries based on the happiness scores of Latin American countries. By an analysis of indexes like the World Happiness Report, Human Development Index, Happy Planet Index, and OECD Better Life Index, some discrepancies were revealed between this income-happiness relationship. While some developed countries align with the expectation, many developing countries like Mexico and Costa Rica, rank higher in happiness despite lower GDP. This Latin American Paradox goes against the idea that higher GDP leads to greater happiness. Throughout the years, Latin American countries keep reporting higher levels of happiness than many developed countries. This phenomenon can be attributed to strong social capital, including a focus on family, friendships, and religion over material wealth. The culture of collectivism in Latin America fosters strong social connections, providing support during difficult times and contributing to overall happiness. Additionally, religion plays a significant role, providing a sense of belonging and a network of support. While other developing countries may share similar cultural traits, they do not consistently exhibit the same high levels of happiness as Latin American countries. Happiness should not be solely explained by economic factors. The Latin American Paradox is an invitation to look beyond income.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Külkereskedelmi Kar

Tanszék

Nemzetközi Gazdaságtan Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Nemzetközi gazdaság és gazdálkodás (angol)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	economic growth, economics, European Union, happiness, Latin America
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2024. Szep. 26. 08:01
Utolsó módosítás:	2024. Szep. 26. 08:01

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