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Scitovsky's The Joyless Economy and the economics of happiness

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  • Maurizio Pugno

Abstract

Scitovsky's The Joyless Economy is especially well-known in recent economic studies on happiness. However, his insightful contributions have not been taken up as they deserve, mainly because they were, and still are, too original. By reconstructing Scitovsky's analysis on the basis of all his relevant writings, this article integrates his most original concepts, such as novelty, consumption skill, endogenous preferences, pleasurable uncertainty, into conventional economics; it compares Scitovsky's analysis to the economic thought of his time and to current consumer theory and it reveals his contributions to happiness economics, such as an original interpretation of the Easterlin paradox.

Suggested Citation

  • Maurizio Pugno, 2014. "Scitovsky's The Joyless Economy and the economics of happiness," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(2), pages 278-303, April.
    • Handle: RePEc:taf:eujhet:v:21:y:2014:i:2:p:278-303
    DOI: 10.1080/09672567.2012.683028
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    References listed on IDEAS

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    1. Di Tella, Rafael & Haisken-De New, John & MacCulloch, Robert, 2010. "Happiness adaptation to income and to status in an individual panel," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 834-852, December.
    2. Flavio Cunha & James J. Heckman, 2009. "The Economics and Psychology of Inequality and Human DEvelopment," Journal of the European Economic Association, MIT Press, vol. 7(2-3), pages 320-364, 04-05.
    3. Tibor Scitovsky, 1995. "Economic Theory And Reality," Books, Edward Elgar Publishing, number 399.
    4. Henry Saffer & Karine Lamiraud, 2012. "The effect of hours of work on social interaction," Review of Economics of the Household, Springer, vol. 10(2), pages 237-258, June.
    5. Scitovsky, Tibor, 1992. "The Joyless Economy: The Psychology of Human Satisfaction," OUP Catalogue, Oxford University Press, number 9780195073478.
    6. Flavio Cunha & James J. Heckman, 2009. "The Economics & Psychology of Inequality and Human Development," Working Papers 200905, Geary Institute, University College Dublin.
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    1. Pugno, Maurizio, 2013. "Scitovsky and the income-happiness paradox," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 43(C), pages 1-10.
    2. Rosalia Castellano & Gabriella Bernardo & Gennaro Punzo, 2023. "Well-being in OECD countries: an assessment of technical and social efficiency using data envelopment analysis," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 70(2), pages 141-176, June.
    3. Antonio Bariletti & Eleonora Sanfilippo, 2017. "At the origin of the notion of ?creative? goods in economics: Scitovsky and Hawtrey," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2017(1), pages 5-34.
    4. Pugno, Maurizio, 2014. "Scitovsky, behavioural economics, and beyond," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-29.
    5. Collewet, Marion, 2014. "Approaches to well-being, use of psychology and paternalism in economics," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-25.
    6. Stavros, Drakopoulos, 2021. "The Relation of Neoclassical Economics to other Disciplines: The case of Physics and Psychology," MPRA Paper 106597, University Library of Munich, Germany.
    7. Annie Tubadji, 2020. "Value-Free Analysis of Values: A Culture-Based Development Approach," Sustainability, MDPI, vol. 12(22), pages 1-17, November.
    8. Pugno, Maurizio, 2016. "Beyond the distinction between necessaries and luxuries," MPRA Paper 73729, University Library of Munich, Germany.
    9. Antonio Bariletti & Eleonora Sanfilippo, 2015. "At the origin of the notion of “creative goods” in economics: Scitovsky and Hawtrey," Working Papers 2015-02, Universita' di Cassino, Dipartimento di Economia e Giurisprudenza.

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