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About well-being in economics
I am reading a book about economics, and in the second part of it, the author makes an interesting analysis about how neoclassical economics defines well-being. According to this theory, well-being is equivalent to economic growth. People are happier when they can satisfy their needs and wants. Although I believe in economics, everything is about wants. That means that we are happier when we buy more. However, there are studies that have found that this is not necessarily true. One example of this is that even though the real per capita income in the US has doubled since World War II, people perceive the same happiness today (the date of the study) as it was in the late 1940s. I honestly think that this is quite obvious; everyone has heard that “money doesn't buy happiness,” but in economics they still ignore that reality.
Another important idea presented in the book was the methodology approaches. In the neoclassical theory, they use the methodological individualism approach. They say that the individual comes before society and that the sum of the actions of every individual gives the society as a result. People try to maximize their self-interest, and markets help to that purpose; as a result, society benefits from this maximization. On the other hand, there is the holistic structuralism approach, which says that unlike the first one, society comes first, and we can't understand it as the aggregate of every individual action. We need to see this bigger picture of society to understand the individual behavior. This idea is more aligned with the notion of marketing and similar things.
About wWell-bBeing iIn eEconomics
Proper capitalization with your title.
According to this theory, well-being is seen as equivalent to economic growth.
“Seen as” makes the statement more precise and natural in academic writing.
Another important idea presented in the book was the methodologyical approaches.
“Methodological approaches” is the correct academic phrasing.
They say that the individual comes before society and that the sum of the actions of every individual gives theforms society as a resultwhole.
Clearer.
People try to maximize their self-interest, and markets help tofulfill that purpose; as a result, society benefits from this maximization.
“Help fulfill that purpose” is the idiomatic phrasing because “help to that purpose” makes the sentence unclear.
Feedback
This is a nice text. I like how you express complex thoughts. Good job here, keep writing! 🤍
About well-being in economics
I am reading a book about economics, and in the second part of it, the author makes an interesting analysis about how neoclassical economics defines well-being.
According to this theory, well-being is equivalent to economic growth.
People are happier when they can satisfy their needs and wants.
Although I believe in economics, everything is about wants.
That means that we are happier when we buy more.
However, there are studies that have found that this is not necessarily true.
One example of this is that even though the real per capita income in the US has doubled since World War II, people experceivience the same level of happiness today (the date of the study) as it wasthey did in the late 1940s.
I honestly think that this is quite obvious; everyone has heard that “money doesn't buy happiness,” but in economics they still ignore that reality.
AnoOther important ideas presented in the book wasere the methodology approaches.
Or "another important idea presented in the book was the methodological approach."
Plurality needs to match, don't know which option is more correct here.
In the neoclassical theory, they use the methodological individualism approach.
They say that the individual comes before society and that the sum of the actions of every individual giveforms the society as a result.
People try to maximize their self-interest, and markets help tofulfill that purpose; as a result, society benefits from this maximization.
We don't say "help a purpose" (idk why, it just is)
On the other hand, there is the holistic structuralism approach, which says that unlike the first one, society comes first, and we can't understand it as the aggregate of every individual action.
We need to see this bigger picture of society to understand the individual behavior.
This idea is more aligned with the notion of marketing and similar things.
Feedback
Very good, sorry I couldn't give more constructive feedback
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About well-being in economics This sentence has been marked as perfect! About Proper capitalization with your title. |
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I am reading a book about economics, and in the second part of it, the author makes an interesting analysis about how neoclassical economics defines well-being. This sentence has been marked as perfect! |
|
According to this theory, well-being is equivalent to economic growth. This sentence has been marked as perfect! According to this theory, well-being is seen as equivalent to economic growth. “Seen as” makes the statement more precise and natural in academic writing. |
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People are happier when they can satisfy their needs and wants. This sentence has been marked as perfect! |
|
Although I believe in economics, everything is about wants. This sentence has been marked as perfect! |
|
That means that we are happier when we buy more. This sentence has been marked as perfect! |
|
However, there are studies that have found that this is not necessarily true. This sentence has been marked as perfect! |
|
One example of this is that even though the real per capita income in the US has doubled since World War II, people perceive the same happiness today (the date of the study) as it was in the late 1940s. One example of this is that even though the real per capita income in the US has doubled since World War II, people exper |
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I honestly think that this is quite obvious; everyone has heard that “money doesn't buy happiness,” but in economics they still ignore that reality. This sentence has been marked as perfect! |
|
Another important idea presented in the book was the methodology approaches.
Or "another important idea presented in the book was the methodological approach." Plurality needs to match, don't know which option is more correct here. Another important idea presented in the book was the methodolog “Methodological approaches” is the correct academic phrasing. |
|
In the neoclassical theory, they use the methodological individualism approach. This sentence has been marked as perfect! |
|
They say that the individual comes before society and that the sum of the actions of every individual gives the society as a result. They say that the individual comes before society and that the sum of the actions of every individual They say that the individual comes before society and that the sum of the actions of every individual Clearer. |
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People try to maximize their self-interest, and markets help to that purpose; as a result, society benefits from this maximization. People try to maximize their self-interest, and markets help We don't say "help a purpose" (idk why, it just is) People try to maximize their self-interest, and markets “Help fulfill that purpose” is the idiomatic phrasing because “help to that purpose” makes the sentence unclear. |
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On the other hand, there is the holistic structuralism approach, which says that unlike the first one, society comes first, and we can't understand it as the aggregate of every individual action. This sentence has been marked as perfect! |
|
We need to see this bigger picture of society to understand the individual behavior. This sentence has been marked as perfect! |
|
This idea is more aligned with the notion of marketing and similar things. This sentence has been marked as perfect! |
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