The Happiness Externality: Exploring the Social Role and Responsibilities of Business

Abstract

Happiness refers to the way people feel and function in their lives and is something that is highly valued by most nations and their citizenry. Over the past two decades, happiness has been a topical area of interest in policy circles around the world. Today, various intergovernmental agencies and over 40 countries around the world are routinely collecting and publishing data on the subjective wellbeing of citizens. However, while much attention has been given to the role of governments in preserving and enhancing societal happiness, there has been minimal focus on the role and contributions of business in societal happiness. Businesses, in their various forms, are inseparable features of mo..