Happiness: A revolution in economics (2008)

This is another book on happiness. But this time, Frey used economic theories to discuss something as abstract as happiness.

So what bring you happiness according to economics? 1. Intelligence? Not at all, people with higher IQ are not happier. Smarty expected too much. Expectation is not healthy once reality is uncertain. 2. Money. Yes, up to a certain point. There is diminishing marginal utility applied to almost everything. Also, human greed is insatiable, money can’t keep up with human need. 3. Age. You live you learn. Elderly people concentrate more on features that make them happy and circumvent those that don’t. 4. Be religious. Religion can act as a haven in difficult time 5. Work for yourself. Somehow, those who are self – employed are happier. Freedom and being self determined bring higher satisfaction. 6. Volunteer more. 7. Get married. More efficient division of labor releases stress and eases life; therefore, increase happiness. 8. Make the most of your genes. A “set point” of happiness strongly influences life satisfaction. To a large extent, the genes one inherits determine this “set- point.” To achieve happiness, it is useful to develop personality traits and life styles that support happiness. Get yourself healthy habit if happiness is the ultimate purpose of life. Thinking at margin to choose what activities yield toward lower opportunity costs. Time is scarce resource, so think twice before set your action.

This is a book on happiness which is backed up by statistics rather than personal anecdotes. Highly recommended for anyone who is looking for happiness and tired of boring self help books

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