Economics of Happiness

Economics of Happiness

By Dr Arvind Kumar

Helena Norberg-Hodge, the founder of the International Society for Ecology and Culture, has recently directed a new documentary film The Economics of Happiness in which she tries to tell about the relationship between economics and happiness. According to her, global economy is effective at many things—moving huge quantities of goods across great distances, for example, or turning mortgages into profits. While raising question as to whether these activities are worthwhile when it comes to improving the lives of the people who live and work within the economy, Norberg-Hodge provides answer when she says: “In many cases, economic policies that increase trade or production actually decrease well-being for millions, even billions, of people.” In her opinion, our social and environmental problems are linked to an economic system that promotes endless consumerism. Fundamental to that system are trade policies that promote the expansion of giant multinational corporations.

She further opines that the current pace of economic growth is destroying rural livelihoods and rural communities. In industrialized countries, only about two percent of the population is left on the land. This has meant the death and destruction of hundreds of thousands, millions probably, of smaller towns and villages. While emphasizing on the need for a balanced approach between urban and rural, she suggests the need for diversity, the ability for people to choose. Suggesting that localization and not globalization as the way out, she says: “Looking at this trend from a global point of view, it’s clear we need to urgently do what we can to support rural livelihoods and the survival of healthy farming.”