Jim Hamilton on Ben Bernanke on the Economic Outlook
Hoisted from Comments: The End of the Old Republican Party

Tyler Cowen Finds Angus Deaton on "Happiness"

Tyler Cowen writes:

Marginal Revolution: The best mid-sized chunk I read today:

...the fraction of Kenyans who are satisfied with their personal health is the same as the fraction of Britons and higher than the fraction of Americans.  The US ranks 81st out of 115 countries in the fraction of people who have confidence in their healthcare system, and has a lower score than countries such as India, Iran, Malawi, or Sierra Leone. While the strong relationship between life-satisfaction and income gives some credence to the measures, the lack of such correlations for health shows that happiness (or self-reported health) measures cannot be regarded as useful summary indicators of human welfare in international comparisons.

That is Angus Deaton...

Angus is highly likely to be right.

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