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Happiness—Concept, Measurement and Promotion
This open access book defines happiness intuitively and explores several common conceptual mistakes with regard to happiness. It then moves on to address topical issues including, but not limited to, whether money can buy you happiness, why happiness is ultimately the only thing of intrinsic value, and the various factors important for happiness. It also presents a more reliable and interpersonally comparable method for measuring happiness and discusses twelve factors, from A to L, that are crucial for individual happiness: attitude, balance, confidence, dignity, engagement, family/friends, gratitude, health, ideals, joyfulness, kindness and love. Further, it examines important public policy considerations, taking into account recent advances in economics, the environmental sciences, and happiness studies. Novel issues discussed include: an environmentally responsible happy nation index to supplement GDP, the East Asian happiness gap, a case for stimulating pleasure centres of the brain, and an argument for higher public spending.
Markets and Morals
The book is researched and written with strong academic rigor and persuasive argument that also makes it accessible to the general public. Considering efficiency, equality, and morality, it argues for market expansion, particularly in legalizing kidney sales and prostitution. These are highly controversial issues with important public policy significance.
Mesoeconomics
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Evolved-God Creationism
This book answers fundamental questions not answered by either science or religion. How did our universe originate? Science says, “from the Big Bang”, but how did this come about? Religion says that it was created by God, but how did God originate? Our universe, with its relativity nature and quantum physics peculiarities, cannot exist by itself. Using five compelling axioms, this book proves that God evolved in the wider universe and created our sub-universe. Further questions like how did the wider universe come about are also answered logically.
Welfare Economics
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Common Mistakes in Economics by the Public, Students, Economists, and Nobel Laureates
This book presents and discusses the most common mistakes in economics made by a vast majority of people in every aspect of society. Discussed herein are common misconceptions on economic issues, including such perennial issues like 'technical progress destroys jobs', 'immigration harms the domestic economy', 'population growth is undesirable', 'globalisation is bad'. Such misconceptions by a significant section of the general public do not just reflect inadequate understanding of how the economy functions, but may actually lead to unnecessary conflicts and impede progress and liberalisation. Understanding our mistakes on these issues may thus contribute to the advancement of our society and the progress towards a more harmonious world.
Famous Figures and Diagrams in Economics
'A picture is said to be worth a thousand words. A picture can easily be worth two or three equations, and it is certainly more memorable. I can draw and use an Edgeworth box more quickly than I can write down its formulas. There is a vast amount of economics packed into the 58 diagrams and expert commentaries in this unique book. Take it with you to your favourite desert island. All you need is a sandy beach and a pointed stick.' - Robert Solow, Massachusetts Institute of Technology, US
Increasing Returns and Economic Analysis
Selected papers from many leading Australian, American, Asian, British and European economists of an international conference at Monash University sparked by the first Australian visit by Kenneth J. Arrow, Nobel Laureate in Economics. Part 1 extends the recently emerged New Classical Economics which uses inframarginal analysis to formally examine classical economic problems of specialization with insights on trade, growth, and many other issues. Part 2 analyses the implications of increasing returns and the associated non-perfect competition on some macro problems like the effects of nominal aggregate demand on output and the price level. Part 3 analyses the relationships of information, returns to scale, and issues of resources and trade.
Efficiency, Equality and Public Policy
This book provides compelling arguments for the exclusive concern with efficiency ('a dollar is a dollar') in all specific areas of public economic policy, leaving the objective of equality to be achieved through the general tax/transfer system. Public policies should ultimately maximize the sum of individual welfares which should be individual happiness rather than preferences. Relative-income and environmental disruption effects cause a bias in favour of private spending which is no longer conducive to happiness socially. Welfare can be increased more by higher public spending on research and environmental protection, including the perfection of the techniques of brain stimulation to increase happiness.
Increasing Returns and Economic Efficiency
Recognizing increasing returns disrupts much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helping to explain phenomena in the real world.
