Quality of life (QOL) is defined by the World Health Organization as "an individual's perception of their position in life in the context of the culture and value systems in which they live and in relation to their goals, expectations, standards and concerns".
Lionel Charles Robbins, Baron Robbins, was a British economist, and prominent member of the economics department at the London School of Economics (LSE). He is known for his leadership at LSE, his proposed definition of economics, and for his instrumental efforts in shifting Anglo-Saxon economics from its Marshallian direction. He is famous for the quote, "Humans want what they can't have."
Sir Christopher Antoniou Pissarides is a Cypriot economist. He is Regius Professor of Economics at the London School of Economics, and Professor of European Studies at the University of Cyprus. His research focuses on macroeconomics, labour economics, economic growth, and economic policy. In 2010, along with Peter Diamond and Dale Mortensen, he received the Nobel Prize in Economics, "for their analysis of markets with theory of search frictions."
Sir Stephen John Nickell, is a British economist and former warden of Nuffield College, Oxford, noted for his work in labour economics with Richard Layard and Richard Jackman. Nickell and Layard hypothesised that the tendency for reduced unemployment to lead to inflation resulted from its effect on competitive bargaining in the labour market He is currently a member of the Office for Budget Responsibility's Budget Responsibility Committee.
Andrew Oswald is a Professor of Economics and Behavioural Science at the University of Warwick, England. He is an ISI highly cited researcher and has been a professorial fellow of the ESRC. He is currently a member of the board of reviewing editors of Science. He held previous posts at Oxford, the London School of Economics, Princeton, Dartmouth and Harvard. Andrew Oswald serves as the chair of the IZA Institute Network Advisory Group.
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health. It typically treats subjective happiness-related measures, as well as more objective quality of life indices, rather than wealth, income or profit, as something to be maximized.
Molly Christine Meacher, Baroness Meacher, known from 2000 to 2006 as Lady Layard, is a British life peer and former social worker.
The Easterlin paradox is a finding in happiness economics formulated in 1974 by Richard Easterlin, then professor of economics at the University of Pennsylvania, and the first economist to study happiness data. The paradox states that at a point in time happiness varies directly with income both among and within nations, but over time happiness does not trend upward as income continues to grow: while people on higher incomes are typically happier than their lower-income counterparts at a given point in time, higher incomes don't produce greater happiness over time. One explanation is that my happiness depends on a comparison between my income and my perceptions of the average standard of living. If everyone's income increases, my increased income gives a short boost to my happiness, since I do not realize that the average standard of living has gone up. Some time later, I realize that the average standard of living has also gone up, so the happiness boost produced by my increased income disappears. It is the contradiction between the point-of-time and time series findings that is the root of the paradox: while there is a correlation at a fixed point, there is no trend over multiple points. That is, in the short run, everyone perceives increases in income to be correlated with happiness and tries to increase their incomes. However, in the long run, this proves to be an illusion, since everyone's efforts to raise standards of living lead to increasing averages, leaving everyone in the same place in terms of relative income. Various theories have been advanced to explain the Paradox, but the Paradox itself is solely an empirical generalization. The existence of the paradox has been strongly disputed by other researchers.
Prosperity is the flourishing, thriving, good fortune and successful social status. Prosperity often produces profuse wealth including other factors which can be profusely wealthy in all degrees, such as happiness and health.
Relational goods are non-material goods that can only be produced and consumed within groups, and which are intrinsically linked to relationships and interaction. Popular examples include the enjoyment of a football game in a stadium, where the collective enjoyment of the game adds a relational good in terms of excitement and enjoyment to all in the stadium. This constitutes an experience that cannot be had when watching alone. Other examples include group charity work, friendship or reciprocal love. Relational goods can be necessary for the optimization of an activity like the football game example. On the other hand, like Nussbaum suggest, a relational good may be the relationship in itself, with the good being dependent on the existence of the relationship. Friendships is an example of a relationship in which the value that come from the relationship are tied up in the existence and maintenance of the relationship.
Improving Access to Psychological Therapies (IAPT), also known as NHS Talking Therapies, for anxiety and depression, is a National Health Service initiative to provide more psychotherapy to the general population in England. It was developed and introduced by the Labour Party as a result of economic evaluations by Professor Lord Richard Layard, based on new therapy guidelines from the National Institute for Health and Care Excellence as promoted by clinical psychologist David M. Clark.
Action for Happiness (AfH) is a global movement and charity based in the United Kingdom. It aims to increase the happiness in the world by bringing together people and supporting them to take practical action to build a happier society. The patron of Action for Happiness is the Dalai Lama. The movement has over 270,000 members in 190 countries.
Subjective well-being (SWB) is a self-reported measure of well-being, typically obtained by questionnaire.
David Millar Clark, is a British psychologist.
Paul Dolan is Professor of Behavioural Science in the Department in Psychological and Behavioural Science at the London School of Economics and Political Science. He is Director of the Executive MSc in Behavioural Science which began in September 2014. Dolan conducts research on the measurement of happiness, its causes and consequences, and the implications for public policy, publishing in both scholarly and popular outlets. He has previously held academic posts at York, Newcastle, Sheffield and Imperial College London and he has been a visiting scholar at Princeton University. He is the author of two popular press books: Happiness by Design and Happy Ever After and the creator and presenter of the Duck-Rabbit podcast.
The World Happiness Report is a publication that contains articles and rankings of national happiness, based on respondent ratings of their own lives, which the report also correlates with various life factors. As of March 2024, Finland has been ranked the happiest country in the world seven times in a row.
The Centre for Economic Performance (CEP) is an interdisciplinary research centre at the London School of Economics dedicated to the study of economic growth and effective ways to create a fair, inclusive and sustainable society. Currently led by Prof. Stephen Machin, it is one of the world's most prestigious economic research institutes, being the most important economic research institute in the United Kingdom, jointly with the Centre for Economic Policy Research. Its research performance has been particularly strong in the research areas of labour economics, productivity, happiness economics, human capital, the knowledge economy, ICT, innovation, education, and European microeconomic issues.
Gross National Well-being/Wellness (GNW) or Happiness (GNH) a socioeconomic development and measurement framework. The GNW/GNH Index consists of seven dimensions: economic, environmental, physical, mental, work, social, and political. Most wellness areas include both subjective results and objective data.
Well-being is a multifaceted topic studied in psychology, especially positive psychology. Biologically, well-being is highly influenced by endogenous molecules that impact happiness and euphoria in organisms, often referred to as "well-being related markers". Related concepts are eudaimonia, happiness, flourishing, quality of life, contentment, and meaningful life.
Jan-Emmanuel De Neve is a Belgian economist and University of Oxford professor where he directs the Wellbeing Research Centre. He is known for his research on the economics of wellbeing which has led to new insights into the relationship between wellbeing and income, productivity, firm performance, and economic growth.
