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Income and Happiness

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Income and Happiness
Author(s)Scitovsky, Tibor
AbstractMarket exchange is neither necessary nor sufficient for mutual gain. It is not necessary because innumerable exchanges occur without benefit of the market and because many unreciprocated acts also yield satisfaction to both giver and recipient. It is not sufficient because market exchanges often create not only satisfactions, but also the needs they satisfy, and anything that gives rise to both a need and its satisfaction is of little or no use to anyone. In looking at the psychology and economics of motivation, the author expresses ideas different from the economist’s world view.
IssueNo
Pages133-145
ArticleAccess to Article
SourceJoyless Economy: The Psychology and Economics of Motivation, The
VolumeNo
PubDate1992
ISBN_ISSN0195019741

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