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Thompson says America must "unchoose" policies that have led to mass incarceration

Axinn says new data on campus rape will "allow students to see for themselves the full extent of this problem"

Frey says white population is growing in Detroit and other large cities


Susan Murphy to speak at U-M kickoff for data science initiative, Oct 6, Rackham

Andrew Goodman-Bacon, former trainee, wins 2015 Nevins Prize for best dissertation in economic history

Deirdre Bloome wins ASA award for work on racial inequality and intergenerational transmission

Bob Willis awarded 2015 Jacob Mincer Award for Lifetime Contributions to the Field of Labor Economics

Next Brown Bag

Monday, Oct 5 at noon, 6050 ISR
Colter Mitchell: Biological consequences of poverty

psc brown bag iconGrowth in Income and Subjective Well-Being Over Time

Justin Wolfers (Economics and Public Policy, University of Michigan)

02/11/2013, at noon in room 6050 ISR-Thompson.

Archived video available

Recent research has found that richer countries have higher well-being than poorer countries and that the relationship is similar in magnitude to that seen between rich and poor members within countries. However, limited data have constrained previous researchers' ability to detect whether economic growth within countries leads to greater well-being. Thus the question of whether raising the income of all will raise the well-being of all remains open. We combine newer data from many different sources with historical data to study the relationship between well-being and GDP in a panel and time series context. We find strong evidence that well-being and GDP grow together. This finding holds over both the short and long run. Over recent decades the world has gotten happier, and the magnitude of the gains is similar to what would be predicted by the growth in world GDP. Our findings suggest an important role for economic growth in increasing well-being, and cast doubt on the Easterlin paradox and theories of adaptation.

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