Annotated Bibliography On The Easterlin Paradox

The Industrial Revolution brought about a more advanced era with lasting effects. Due to these effects, we can live easier, more comfortable lives that last longer and are, in comparison, far better. Some of these effects are still evident today. However, not all of them were positive, nor were all of them negative. While some might argue that Industrialization had primarily negative consequences for society because of poor living and working conditions, it was actually a positive thing for society. Industrialization’s positive effects included better business, a ready workforce, and more efficient machines, production, and transportation.

The Industrial Revolution had many positive effects. One of them being the invention of the railroad. The railroad changed the way of transportation. It helped people get around quicker and cheaper (Document 5). Also with the Industrial Revolution the houses started getting built better and the clothes got cheaper Document 5). So with this the standard of living for the people improved. Standard of living is the

Depression is a mental disorder in which a patient might feel intense, prolonged, negative emotions (Beyond Blue, 2014). This can have severe impact on a person's mental and physical health, thus affecting a person's quality of life. Severe cases can even lead to suicide. It is estimated that one in six Australians will experience depression in their lifetime (Beyond Blue, 2014). The burden of disease gives an indication of of the loss of health and well being of Australians due to each disease (ABS, 2010). Depression and anxiety is the leading cause of burden among females, accounting for 10% of burden while it is the third leading cause for men, accounting for 4.8% (AIHW, 2003) (This was the most recent information found).

While some might argue that Industrialization had primarily negative consequences for society because of the horrible working conditions, it was actually a positive thing for society; Industrialization’s positive effects were the production increases, more efficient transportation and better living conditions. The assembly line and factories were forms of production increase. The railroads and automobiles are examples of efficient transportation, and tenements and urban renewal are examples of better living conditions. These come to show that the industrial revolution was a major improvement in product distribution, transportation and living quarters.

Last year I spent so much time trying to figure how much happier I will be if I will make a big effort and start to earn more money. After some research I think that, even though UK Office of National Statistics show an interrelation between income and level of happiness, our emotional state is not correlated with financial sustainability as much as many people think because US National Academy of Science thinks that high income improves evaluation of life but not emotional well-being, and psychologist Daniel Kahneman and economist Angus Deaton also concluded that happiness doesn’t really increase above

In Australia, approximately 14% of Australians will be affected by the an anxiety disorder in a period of one year(Australia Bureau of statistics , 2007). Anxiety and depression are two most common mental health conditions that are experienced by the people and affect their behaviour in Australia. Anxiety is the feeling of stressed and worried. In this condition victum may feel under pressure and uncomfortable.Depression is the other mental health disorder that is experienced by the people of Australia. Depression is the feeling of low mood and sadness. According to the beyond blue statistics about 3 million of Australians are suffred by the mental health disorders and it has very worst effect on the Australian society because they they

British economist Richard Layard published a book entitled Happiness in which he discussed the results of several tests he ran. He discussed having a group of children that were asked how happy they were on a scale of one to ten. The children's overall happiness level was about a six. Then each child got to select a “gift”, at random, from a bag. Again the children were asked how happy they were on a scale of one to ten. Surprisingly their happiness level had dropped. It was now a four. They were now materially “richer”, but they reported being less happy than before. This shows that wealth does not make us happy. So why do we, like Willy still think it will? (Professor Richard Layard on Happiness) (Carroll, 2012).

According to Black Dog Institute (2012), one in seven Australians will experience depression in their lifetime meaning, depression has a high lifetime prevalence. In Australia, depression is the third largest burden of disease (13.3%). It also is the third largest globally. It is responsible for the greatest proportion of burden attributable to non-fatal outcomes, accounting for nearly 12% of total years lived with disability worldwide (WHO, 2005). In Australia it is also the largest cause of non-fatal disability with 24%. These figures show that on average, people with depression live with disability for a longer number of years than people suffering other non-fatal diseases such as dementia and hearing loss. (Black Dog Institute, 2012)

GDP is used for analyzing happiness and public policy; however, there are problems that arise. Countries may get wealthier, but they don’t necessarily get happier. For instance, the U.S. has grown in GDP, but have fallen in the rankings of happiness (White, “The Problems with Measuring and Using Happiness for Policy Purposes”).

Another weakness of this study is college students taking the survey. It would be best to expand the survey outside the university and focus on other populations rather than just concentrating on one group. This would give more sufficient data, especially since diversity is one of the main issues of this study. If given the chance, traveling to other cities and countries could help further explain the relationship between money and happiness, and examine whether an increase in income does cause a person to feel less or more satisfied. Also, this would present more findings for future research to study

In contrast to decades of research reporting surprisingly weak relationships between money and happiness, recent

According to the Australian Bureau of Statistics, “Nearly three million Australians live with depression and/or anxiety, which affects their wellbeing, personal relationships, career and productivity”. It is true that the real definition of depression is skewed amongst those in society. Some chose to believe that depression is a normal reaction to life’s stresses, like losing a loved one, getting fired from a job, going through a divorce, and other difficult situations, and that only when these feelings come without reason and persist long term should it be seen as a serious concern. Others believes that depression is no more than a sad feeling that is ignorable, only revealed to people for the sake of attention and the care that comes from pity and sympathy. Personally, I believe that depression is a scientifically proven mental illness, and as it dramatically alters one’s self and has become prevalent in society, it should be discussed with the gravity and urgency deserved to such a pressing topic.

The article “The health-related quality of life burden of co-morbid cardiovascular disease and major depressive disorder in Australia: findings from a population-based, cross-sectional study”, was written by Adrienne O’Neil (PhD in Public Health, Faculty member, Department of Epidemiology & Preventive Medicine, Monash University), Christopher E. Stevenson (PhD in Health Economics, Deakin University, Faculty

Various articles and literature works coupled with the ongoing happenings clearly indicate that happiness has no price tag. Since the beginning of human evolution, there has been a saying that “money cannot buy anyone happiness.” Happiness refers to emotions, and it is dependent on people’s choices (Landau, 2008). Finding oneself in a place where material properties and social status are crucial, many people’s happiness in such cases would be dependent on these things. For the purpose of understanding this issue, this paper critically analyses a research done by Morelli, Rameson, and Lieberman about happiness.

In his article, “Does Economic Growth Improve the Human Lot? Some Empirical Evidence,” Richard probes whether, or not, income and wealth have a direct effect on happiness. The paper is based on an analysis of surveys conducted in the 19th Century, in the period after the Second World War. The data was collected from both the developed and the less developed countries. His probe is informed by the fact that many economists had, previously, claimed that the economic growth does, indeed, have an effect on a person’s, or persons,’ social welfare, in that they are, directly, proportional. Bearing this in mind, the author sought to find evidence that supports this claim, with the primary emphasis being on happiness, which is an indicator of contentment in a particular social setting. Richard’s paper would be the first to investigate the evidential aspect of the topic. He concludes that there is some level of skepticism surrounding the possibility that an increase in income causes immediate happiness, or has a positive effect on the social welfare of a group of people, or an individual (Easterlin, 1974).