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Wellbeing EconomicsPersons and Human Capital

Wellbeing Economics: Persons and Human Capital [The wellbeing economics framework begins with individual persons seeking to create the kinds of lives they value, and have reason to value. These persons are able to make time-use choices they reason will promote wellbeing, influenced by cultural values, personal abilities and social capabilities. The attention to choices about time-use is because persons have equal time to allocate each day, and because time-use choices influence monetary values recorded in market transactions. Persons can expand capabilities through formal education and through relevant experience, which are time-use choices that economists describe as investment in human capital. Progress in wellbeing can be monitored using measures of subjective and objective wellbeing, exemplified in the Organisation for Economic Co-operation and Development’s Better Life Initiative.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Wellbeing EconomicsPersons and Human Capital

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2018. This book is an open access publication
ISBN
978-3-319-93193-7
Pages
23 –43
DOI
10.1007/978-3-319-93194-4_2
Publisher site
See Chapter on Publisher Site

Abstract

[The wellbeing economics framework begins with individual persons seeking to create the kinds of lives they value, and have reason to value. These persons are able to make time-use choices they reason will promote wellbeing, influenced by cultural values, personal abilities and social capabilities. The attention to choices about time-use is because persons have equal time to allocate each day, and because time-use choices influence monetary values recorded in market transactions. Persons can expand capabilities through formal education and through relevant experience, which are time-use choices that economists describe as investment in human capital. Progress in wellbeing can be monitored using measures of subjective and objective wellbeing, exemplified in the Organisation for Economic Co-operation and Development’s Better Life Initiative.]

Published: Sep 12, 2018

Keywords: Human capital; Wellbeing measures; Time-use choices; Skills; Sustainability

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