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The variation in skills and productivity between groups of people ultimately caused disparities in employment, occupation and income within labour markets, which provided advantages to certain groups and characteristics of people. This in due course was the motivation to introduce affirmative action in South Africa, following the end of apartheid.
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, [1] life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health.
Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
The top 1% derived 58% of their income from capital as opposed to 4% for the middle quintile. Government transfers represented only 1% of the income of the top 1% but 25% for the middle quintile; the dollar amounts of these transfers tend to rise in recessions. [16]
Challenge is an opportunity-related emotion that allows people to achieve unmet goals. [7] Eustress is indicated by hope and active engagement. [8] Eustress has a significantly positive correlation with life satisfaction and hope. [9] It is typically assumed that experiencing chronic stress, either in the form of distress or eustress, is negative.
In Happy People Live Longer (2011), [132] Bruno Frey reported that happy people live 14% longer, increasing longevity 7.5 to 10 years and Richard Davidson's bestseller (2012) The Emotional Life of Your Brain argues that positive emotion and happiness benefit long-term health.
Often, individuals responding to chronic stress will develop potentially positive or negative coping behaviors. People who cope with stress through positive behaviors such as exercise or social connections may not be as affected by the relationship between stress and health, whereas those with a coping style more prone to over-consumption (i.e ...