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Homo Economicus and Happiness: Towards More Sustainable Development

In: The Economics of Happiness

Author

Listed:
  • Martin Binder

    (Bard College Berlin
    Levy Economics Institute of Bard College, Blithewood, Bard College)

Abstract

Sustainable development is often seen through the lens of the standard income-based welfare framework which neglects insights from the “Beyond GDP” debate. This chapter suggests ways in which a subjective well-being framework can enrich sustainability economics. Drawing on Richard Easterlin’s insights and replacing homo economicus with homo felix in theories of sustainable behaviour does not prompt excessive consumerism but rather fosters concerns for altruism and justice in regard to future generations and nature. On the micro-level, individuals derive lasting well-being from doing good and leading responsible, sustainable lifestyles. On the societal level, policy-makers can use a subjective well-being framework to more coherently incorporate ideas of sustainable development, civic consumerism and well-being.

Suggested Citation

  • Martin Binder, 2019. "Homo Economicus and Happiness: Towards More Sustainable Development," Springer Books, in: Mariano Rojas (ed.), The Economics of Happiness, chapter 0, pages 171-191, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-15835-4_8
    DOI: 10.1007/978-3-030-15835-4_8
    as

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