Another study followed more than 6,000 individuals over 14 years and found that those with greater purpose were 15 percent less likely to die than those who were aimless, and that having purpose was protective across the life span — for people in their 20s as well as those in their 70s.
Measuring Individual Economic Well‐Being and Social Welfare within the Framework of the System of National AccountsDecember 18, 2017
While the agenda of “beyond GDP” encompasses measurements that lie outside boundaries of the System of National Accounts, key aspects of individual well‐being and social welfare can be incorporated into an SNA framework. We bring together the relevant theoretical literature and the empirical tools needed for this purpose. We show how consumption‐based measures of economic welfare can be integrated into the national accounts without changing their production or asset boundary. At the same time, explicit normative and methodological choices are required to select a social welfare function. The paper provides guidance how to make these choices transparent and how to present social welfare measures.
The Declaration of Independence states that all people are endowed with certain unalienable rights, and that among these is the pursuit of happiness. But is happiness available equally to everyone in America today? How about elsewhere in the world? Carol Graham draws on cutting-edge research linking income inequality with well-being to show how the widening prosperity gap has led to rising inequality in people’s beliefs, hopes, and aspirations.
For the United States and other developed countries, the high costs of being poor are most evident not in material deprivation but rather in stress, insecurity, and lack of hope. The result is an optimism gap between rich and poor that, if left unchecked, could lead to an increasingly divided society. Graham reveals how people who do not believe in their own futures are unlikely to invest in them, and how the consequences can range from job instability and poor education to greater mortality rates, failed marriages, and higher rates of incarceration. She describes how the optimism gap is reflected in the very words people use—the wealthy use words that reflect knowledge acquisition and healthy behaviors, while the words of the poor reflect desperation, short-term outlooks, and patchwork solutions. She also explains why the least optimistic people in America are poor whites, not poor blacks or Hispanics.
Happiness for All? highlights the importance of well-being measures in identifying and monitoring trends in life satisfaction and optimism—and misery and despair—and demonstrates how hope and happiness can lead to improved economic outcomes.
This study investigated health premium of marriage among middle-aged and older Japanese. Using a unique longitudinal micro dataset for Japanese aged 45–80 years in 2007, we applied a dynamic panel data model and utilized both subjective and objective health indicators for 4,386 observations from 2008 to 2012. We found significant marriage–health premium among middle-aged Japanese, while the evidence for older Japanese was inconclusive. This is the first study addressing the endogeneity between marriage and health to confirm the protective effect of marriage on health for middle-aged and older people in Japan, which sounds an alarm for Japanese health policies facing the late marriage and rising divorce rates owing to the receding economy and shifting social norms.
an hour of running statistically lengthens life expectancy by seven hours, the researchers report.
The combined effect means that mortality rates of whites with no more than a high school degree, which were around 30 percent lower than mortality rates of blacks in 1999, grew to be 30 percent higher than blacks by 2015.
Longitudinal Evidence for a Midlife Nadir in Human Well‐Being: Results from Four Data Sets by Terence Chai Cheng, Andrew J. Oswald :: SSRNFebruary 8, 2017
There is a large amount of cross‐sectional evidence for a midlife low in the life cycle of human happiness and well‐being (a ‘U shape’). Yet no genuinely longitudinal inquiry has uncovered evidence for a U‐shaped pattern. Thus, some researchers believe the U is a statistical artefact. We re‐examine this fundamental cross‐disciplinary question. We suggest a new test. Drawing on four data sets, and only within‐person changes in well‐being, we document powerful support for a U shape in longitudinal data (without the need for formal regression equations). The article’s methodological contribution is to use the first‐derivative properties of a well‐being equation.