Well-being and Growth in Advanced Economies: The Need to Prioritise Human Development
English | 2023 | ISBN: 1032149051 | 125 Pages | PDF (True) | 2 MB
Economic growth is generally regarded by governments and most ordinary people as a panacea for all problems, including issues caused by the COVID pandemic. But this raises an important question: is further growth in advanced economies able to increase well-being once people's basic subsistence needs are met? Some advanced market economies, e.g. the United States, have exhibited a decline in well-being, both subjectively and objectively measured, over several decades despite seeing economic growth during the same period.