The Economic Crisis as an Opportunity to Examine the Economic Paradigm
The study of happiness is becoming more pertinent than ever in these days of global crisis. The equation: wealth = happiness is at the basis of the existing economic paradigms. To a great extent, it determines our way of life, its quality, our interpersonal relationships, and relations between citizens and state. To a great extent, the belief that wealth=happiness also affects the nature of the entire international economic system.
Every college freshman understands that the expression, “Maximizing utility under an existing budget limit,” is tantamount to the maximum level of happiness that can be obtained with a given sum of money. The contemporary crisis is an opportunity to examine whether the current economic paradigm and existing life-systems truly achieve their goals and provide people with happiness.