National Happiness and the State Policy on Its Formation

• Main Authors: Sakalo Oleksandr Ye., Stepanenko Sergii V.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2020-12-01
• Series: Bìznes Inform
• Subjects: happiness; economics of happiness; subjective estimation of happiness; study of happiness; socio-economic development; public policy
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2020-12_0-pages-6_13.pdf
• ISSN: 2222-4459; 2311-116X

The publication explores the problem of happiness as a common, universal indicator of socio-economic development. The factors influencing the subjective, individual estimation of happiness are defined. The relationship between the level of happiness and the pace of economic growth is characterized. A relatively new direction of economic theory – the economics of happiness – is considered; the object and subject matter of its research are determined; the main issues that fall into account of the scholars working within terms of this direction are listed. A number of experimental studies on happiness were considered, which used primarily psychological methodology and relied on the results of mass opinion polls in different regions of the world. The global happiness index (The Happy Planet Index) and the World Happiness Report are paid the major attention. The methodology for carrying out these studies is described. The leaders of these ratings are identified according to the data for 2019 and 2020. Ukraine’s place in these ratings is determined. The need to clarify the links between the objective indicator of economic well-being (GDP per capita) and subjective estimates by the population is substantiated. The essence, purpose, main tasks and directions of the State policy on the formation of happiness are considered. The main components and priorities of the State policy in this context are characterized. It is concluded that the main goal of the State policy focused on achieving happiness is to create conditions under which timely, complete and qualitative satisfaction of various needs of both the lower and the higher levels is possible for the population, i.e. ensuring material and spiritual satisfaction with life. It is specified that traditional objective indicators of economic well-being retain their importance when assessing the level of socio-economic development of a certain country, however, they are not sufficient to have the problem fully studied, and it is necessary to take into account subjective assessments of the population. These subjective indicators are necessary because they allow a better choice of the right directions of economic and social policy.