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Two Happiness Puzzles

By Angus Deaton and Arthur A. Stone

òòò½Íø Review, May 2013

We consider two happiness puzzles. First, many studies show that only relative income matters for well-being. Yet the Gallup data for the United States and from the rest of the world show no such result, at least for life evaluation. There may be relative...

Market Failure and Government Failure

[Symposium: The State and Economic Development]

By Mrinal Datta-Chaudhuri

Journal of Economic Perspectives, Summer 1990

For several decades a debate has been raging in development economics on the relative virtues of the free market as opposed to state intervention, with neither side convincing the other. While this sterile debate continues, experiences accumulated from re...