Happiness, environmental protection and market economy

Kerekes, Sándor (2011) Happiness, environmental protection and market economy. Society and Economy, 33 (1). pp. 5-13. DOI 10.1556/SocEc.33.2011.1.3

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The manufacturing sector is leaving the West for Asia’s low wages and good working culture. Europe would be better off keeping these manufacturing activities, slowing down wage inflation and what is more, letting a young, cheaper workforce from the East settle down within their borders. This would aid in preserving the diverse economic structure which has been characteristic for Europe.Beside the economic growth there are two more concepts which have turned into the “holy cows” of economics during the last fifty years. One is the need to constantly improve labor productivity and the other is increasing competitiveness of nations. The high labor productivity of some countries, induces severe unemployment in the globalized world. In the other hand it is high time we understood that it is not competition, but cooperation that brings more happiness to humanity.Should we still opt for “happiness” and “sanity”, it is quite obvious that we all should, in economists’ terms, define our individual welfare functions corresponding to our own set of values, staying free from the influence of media, advertisements and fashion. The cornerstone to all this is the intelligent citizen who prefers local goods and services.

Item Type:Article
Uncontrolled Keywords:labor productivity, quality of life JEL code: P48
Divisions:Faculty of Business Administration > Institute for Environmental Science > Department of Environmental Economics and Technology
Subjects:Economic development
Environmental economics
ID Code:690
Deposited By: Ádám Hoffmann
Deposited On:18 Jun 2012 15:31
Last Modified:13 Dec 2021 09:41

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