First, there are differences in the metrics used – the life satisfaction (0-10) is more granular than the 4 category response questions.
Additionally, the plot from OWID, a lot of the data seems quite short-term – e.g., 10 years or so. Easterlin always emphasises that the paradox is across the whole economic cycle, but a country might experience continuous growth in the space of a decade.
My overall view – several happiness economists I’ve spoken to basically think the Easterlin Paradox is correct (at least, to be specific: self-reported national life satisfaction is flat in the long-run), so I defer to them.
Hey Mo, thanks so much!
I don’t have a particularly strong view on this.
I guess:
First, there are differences in the metrics used – the life satisfaction (0-10) is more granular than the 4 category response questions.
Additionally, the plot from OWID, a lot of the data seems quite short-term – e.g., 10 years or so. Easterlin always emphasises that the paradox is across the whole economic cycle, but a country might experience continuous growth in the space of a decade.
My overall view – several happiness economists I’ve spoken to basically think the Easterlin Paradox is correct (at least, to be specific: self-reported national life satisfaction is flat in the long-run), so I defer to them.