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Happiness and Hardship

Opportunity and Insecurity in New Market Economies
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Subjective well being, or happiness, has been analyzed in detail by psychologists for decades. Yet only recently has it become the subject of economic analysis. In Happiness and Hardship, Carol Graham and Stefano Pettinato provide a new conceptual framework for analyzing the relationship between subjective well being and the political sustainability of market-oriented economic growth in 17 Latin American countries and Russia.
Carol Graham is a senior fellow in the Economic Studies program and codirector of the Center on Social and Economic Dynamics at the Brookings Institution. Stefano Pettinato is a senior research analyst at the Brookings Institution.
"Recommended for economics and political science collections." R.S. Rycroft, Mary Washington College, Choice, 9/1/2002 |"[Graham and Pettinato] shed penetrating light on a highly topical question: does one's overall level of subjective satisfaction- 'happiness' determine popular support for economic reform?" John Starrels, Senior Public Affairs Officer, IMF External Relations, Finance & Development, 9/1/2002 |"An excellent review of a complex subject..." Richard N. Cooper, Foreign Affairs, 9/1/2002 |"Carol Graham and Stefan Pettinato provide a thorough and illuminating examination of how economic conditions in emerging market countries affect peoples' happiness. In particular, the authors explore how economic mobility, opportunity, and relatively low income levels affect life satisfaction. Graham and Pettinato have much to offer on several levels. First, Happiness and Hardship provides an accessible and thorough introduction to connections between economic conditions and happiness, while breaking new ground by focusing on emerging markets...... overall, this work adds up to a valuable analysis of the determinants of happiness in a small set of less developed countries -- useful knowledge for students, scholars, and policymakers." Adam Resnick, Western Washington University, American Political Science Associatin, Perspectives on Politics
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