27, June 2026

What Makes Us Happy? A Review of Happiness Economics

VOLUME-9; ISSUE-6; JUNE-2026

Author(s): Dr. Soham Mitra

Authors Affiliations:

State Aided College Teacher, Department of Economics, Vidyasagar College for Women, Kolkata 700006, West Bengal, India. Kolkata.

 

DOIs:10.2018/SS/202606011     |     Paper ID: SS202606011


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Happiness economics has gained importance by questioning whether economic growth and higher income necessarily lead to greater well-being. The present study reviews the relationship between income and happiness, focusing on the measurement of subjective well-being and the insights of the Easterlin Paradox. While higher income is generally associated with greater happiness at a given point in time, sustained economic growth does not always increase average happiness. The study also examines key non-monetary determinants of happiness, including health, education, religion, age, gender, and family characteristics. Particular attention is given to the Indian context through a review of existing studies and evidence from different waves of the World Values Survey (WVS). The findings suggest that a large proportion of Indians report themselves as happy, despite variations in life satisfaction over time. Although self-reported happiness measures have certain limitations, they provide useful information for understanding individual well-being and designing public policies. The paper concludes that happiness should be considered alongside conventional economic indicators when assessing social progress and development.

 

Subjective well-being; Happiness; Life-satisfaction; Gross National Happiness ; World Values Survey.

Dr. Soham Mitra (2026); What Makes Us Happy? A Review of Happiness Economics, Shikshan Sanshodhan : Journal of Arts, Humanities and Social Sciences,      ISSN(o): 2581-6241,  Volume – 9,   Issue –  6,  Available on –   https://shikshansanshodhan.researchculturesociety.org/

 

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