As Innovations Drive Economic Growth, Do they also Raise Well-Being?
AbstractWhile there is little doubt that innovations drive economic growth, their effects on well-being are less clear. One reason for this are ambivalent effects of innovations on well-being that result from pecuniary and technological externalities of innovations, argued to be inevitably. Another major reason lies in the fact that, as a result of innovations, preferences can change over time. Under such conditions, a time-consistent measuring rod for changes in well-being is hard to construct. Existing conceptions of well-being are shown not yet to solve the problem in a way that provides an unambiguous answer to the question in the title.
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Bibliographic InfoPaper provided by Max Planck Institute of Economics, Evolutionary Economics Group in its series Papers on Economics and Evolution with number 2011-05.
Date of creation: May 2011
Date of revision:
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
- O00 - Economic Development, Technological Change, and Growth - - General - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-24 (All new papers)
- NEP-FDG-2011-05-24 (Financial Development & Growth)
- NEP-HAP-2011-05-24 (Economics of Happiness)
- NEP-PKE-2011-05-24 (Post Keynesian Economics)
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- Safarzyńska, Karolina, 2013. "Evolutionary-economic policies for sustainable consumption," Ecological Economics, Elsevier, vol. 90(C), pages 187-195.
- Martin Binder, 2013. "Subjective Well-being Capabilities: Bridging the Gap between the Capability Approach and Subjective Well-Being Research," Papers on Economics and Evolution 2013-02, Max Planck Institute of Economics, Evolutionary Economics Group.
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