ECON 103 Study Guide - Quiz Guide: Juliet Schor, Easterlin Paradox, Consumerism
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ECON 103 Full Course Notes
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Class 5, quiz 3: to be done at home and handed in to ta section. Note that you may work with one other person from your ta section. Your section time and day: friday section 02. Read real world micro 3. 6, interview with juliet schor. The easterlin paradox states that over time, there is no increase in happiness in advanced capitalist countries. Going back to world war ii, we had the same level of happiness back then as we do today even though individuals are 4x wealthier. Our economic system built to exploit the dissatisfied population. When we are dissatisfied two things will happen. First, we will be open to suggestion that we need more to be satisfied. Some companies do a great job of making the dissatisfied people the target market. They target them with ad s and sales so that they buy the product and become more satisfied.
