The Happiness in Penang (HIP) Index 2020-2021
By Yeong Pey Jung, Negin Vaghefi
January 2022 PENANG ECONOMIC INDICATOR
MORE OFTEN THAN not, a nation’s state of progress and development is measured by the metrics of gross domestic product (GDP), gross national product (GNP), volume of foreign and domestic investments and other similar economic indicators.These metrics, though effective tools to evaluate a country’s financial wealth by, do not measure the social development and wellbeing of its people. Various studies have shown that economic progress does not necessarily guarantee increased happiness and subjective wellbeing.1In the U. K., steady economic growth...
References
- Easterlin, R. A. (1974). Does economic growth improve the human lot? Some empirical evidence. In Nations and households in economic growth (pp. 89-125). Academic Press.
- Clifton, J. (20th March, 2017). The Happiest and Unhappiest Countries in the World, retrieved from https://news.gallup.com/opinion/ gallup/206468/happiest-unhappiest-countries-world.aspx
Yeong Pey Jung
is a senior analyst with the Socioeconomics and Statistics Programme at Penang Institute. She is a reading enthusiast and is surgically attached to her Kindle.
Negin Vaghefi
is a senior analyst at Penang Institute. She holds a Ph.D. in Environmental Economics. Her research interests include agri-environmental economics, climate change, green economics, poverty and income inequality, and policy analysis.
