Title: Does freedom lead to happiness? Economic growth and quality of life

Authors: Nina Gorovaia; Stavros A. Zenios

Addresses: Department of Business Administration, School of Social and Economic Sciences, Frederick University, 7, Y. Frederikou Str., Pallouriotissa, 1036, Nicosia, Cyprus ' University of Cyprus, University of Cyprus Campus, 105, University House Anastasios G. Leventis, Nicosia, Cyprus; Financial Institutions Center, The Wharton School, University of Pennsylvania, PA 19104, USA

Abstract: The preoccupation with economic growth has not led to increase in happiness in the developed world. More than that, the world experienced the worst financial crisis of 2008 since the Great Depression. We draw on Sen's work Development as Freedom and research on economics of happiness to explore the situations when increasing instrumental freedoms have not resulted in overall increase in happiness. The prescriptive part of the paper offers some solutions to the problem.

Keywords: instrumental freedoms; economics of happiness; economic growth; quality of life.

DOI: 10.1504/GBER.2013.053076

Global Business and Economics Review, 2013 Vol.15 No.2/3, pp.309 - 323

Published online: 30 Oct 2013 *

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