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Mark Anielski’s book, The Economics of Happiness: Building Genuine Wealth (2007), throws into question the prevalent assumption that a strong economy creates greater well-being.
As shown in the two graphs below, happiness does not significantly increase as income and material consumption (ecological footprint) rise.
Scanned from Anielski (2007), page 225.
Scanned from Anielski (2007), page 223.
So if it’s not material and financial wealth, what is it that meets our needs and makes us happy?
Anielski draws on the Max-Neef Matrix of Human Needs (shown below) to identify five categories of wealth that “contribute to the good life and form the basis of an economy of well-being” (Anielski, p.74).
The five categories of wealth are:
- Human Capital (the health, skills, capabilities, etc. of individuals and communities)
- Social Capital (the strength of relationships, sense of belonging in communities, etc.)
- Natural Capital (the health of the environment and natural resources)
- Built Capital (the things built with human and natural capital, including infrastructure, technology, etc.)
- Financial Capital (money and other things with monetary value)
Anielski argues that it is the harmonious integration of these five capitals that creates a state of Genuine Wealth in a community. It is this state of Geniune Wealth, rather than financial or material wealth alone, that leads to happiness or “the good life.”
Scanned from Anielski (2007), page 71.
Source:
Anielski, Mark. (2007). The Economics of Happiness: Building Genuine Wealth. Gabriola Island: New Society Publishers.
To learn more about Genuine Wealth and the author, Mark Anielski, visit http://www.anielski.com/
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Thursday, 17 May 2012 
The ESPC is a member of the Edmonton Coalition on Housing and Homelessness (ECOHH). ECOHH sent out a three question survey related to housing security to each political party competing in the 2012 Alberta election. So far, the Progressive Conservatives (PC), the New Democratic Party (NDP), and the Alberta Party responded to ECOHH's questions. Below are their respective answers.
