The Economics of Happiness and India’s Position | Original Article

ABSTRACT:

As countries develop, this progress gets done and translated into higher earnings and better stand-ards of living economic thought suggest that are increased levels of income will provide higher lev-els of utility or satisfaction to the people it has been noticed however that increased amount of mon-ey does not imply greater satisfaction in fact people prefer a happy state of mind over larger in-comes while gross domestic product and national product are economic measures of well-being, countries across the world have come to except that happiness and a harmonious society are just as important. This has led to the acceptance of the new criterion the happiness index to measure how happy people of the country regard themselves to be on the united nations supports an annual world happiness report that ranks member countries accordingly this article analyzes current literature to highlight the importance of such an index and the applicability of happiness index is a measure of economic progress