Value-Added Happiness
Making a case for human-oriented economics
Count your lucky stars
In purely economic terms, the calculation is simple: the more money you have, whether through wealth or income, the more advantages. As a result people with greater advantages are in a better position and more satisfied. But is this really the case? Happiness economics, a new branch of academic economics, begs to differ. Its findings clearly show that acting blindly in accordance with material economic forces and cost-benefit calculations fails to do justice not only to the real issues, but also to people as individuals. Business ethics expert Johannes Wallacher calls for a new understanding of prosperity and entrepreneurial success, following one principal objective: economic activity that meets the needs of the people. This is our only real chance of happiness.
Prof. Johannes Wallacher, born in 1966 in Ludwigshafen on the Rhine, has held the Chair for Social Sciences and Business Ethics at the University of Philosophy in Munich since 2006. He directs the interdisciplinary »Rottendorf Project« in cooperation with well-known international researchers. This project conducts research into current challenges within the context of globalisation, and investigates related ethical questions.
Count your lucky stars
In purely economic terms, the calculation is simple: the more money you have, whether through wealth or income, the more advantages. As a result people with greater advantages are in a better position and more satisfied. But is this really the case? Happiness economics, a new branch of academic economics, begs to differ. Its findings clearly show that acting blindly in accordance with material economic forces and cost-benefit calculations fails to do justice not only to the real issues, but also to people as individuals. Business ethics expert Johannes Wallacher calls for a new understanding of prosperity and entrepreneurial success, following one principal objective: economic activity that meets the needs of the people. This is our only real chance of happiness.
Prof. Johannes Wallacher, born in 1966 in Ludwigshafen on the Rhine, has held the Chair for Social Sciences and Business Ethics at the University of Philosophy in Munich since 2006. He directs the interdisciplinary »Rottendorf Project« in cooperation with well-known international researchers. This project conducts research into current challenges within the context of globalisation, and investigates related ethical questions.
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