Richard A. Easterlin, a prominent economist known as the “father of happiness economics,” passed away at 98, challenging the belief that economic growth leads to increased happiness with his Easterlin paradox. His research showed that despite rising incomes in the United States and Japan, people reported no increase in happiness, suggesting that social comparisons play a key role in determining happiness levels. While some have contested his findings, Easterlin’s work has had a significant impact on the study of economics and well-being, highlighting the importance of factors beyond income, such as health and family life, in determining happiness.
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