ABSTRACT. Do states at various degrees of economic development have distinct average degrees of subjective well-being? The main objective of this paper is to explore and describe the relationship between subjective well-being and economic growth, the consequences of income change on different kinds of subjective well-being, the dynamic link between income disparity and happiness, and the function of culture in grasping the long-run happiness and life satisfaction of people. Although researchers have discovered some important findings regarding why economic growth within a state may not translate into a rise in contentment, there is still a great deal that is unknown and that requires further empirical inquiry.
JEL codes: F43; O15; O47; D31; D63
Keywords: subjective well-being; economic growth; income disparity
How to cite: Popescu, Gheorghe H. (2016), “Does Economic Growth Bring About Increased Happiness?,” Journal of Self-Governance and Management Economics 4(4): 27–33.
Received 22 August 2015 • Received in revised form 11 February 2016
Accepted 12 February 2016 • Available online 22 February 2016
doi:10.22381/JSME4420163