Society and Economy
Volume/Issue:
Volume 36: Issue 4
The cyclical component of GDP and life satisfaction: The impact of the Mediterranean welfare system
Author:
Thomas Wiese Corvinus University of Budapest Faculty of Economics Budapest Hungary

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Pages:
529–542
Online Publication Date:
21 Nov 2014
Publication Date:
01 Dec 2014
Article Category:
Research Article
DOI:
https://doi.org/10.1556/socec.36.2014.4.5
Keywords:
happiness; growth; adaptation; European social welfare systems
Restricted access

The study of happiness and economics indicates a paradox: rising income has not led to increases in long term levels of life satisfaction. Evidence shows that citizens adapt to the growth of GDP, but an important difference among certain countries in connection with life satisfaction and the deviation from trend growth has been found: Spain, Italy, Portugal and Greece adapt to the trend growth of their economies; other European countries, however, do not. This suggests that some characteristics of their welfare state, such as the inability to create sufficient equity might leave their citizens more dependent on economic variables such as rising income. Only in boom times can the young, uneducated or the elderly find access to the otherwise restricted labor market and have a chance to escape the poverty trap. In this regard the paper places special emphasis on the issue of global competition by linking the subject with the current state of the European Union.

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Society and Economy
Print ISSN:
1588-9726
Online ISSN:
1588-970X

Editor-in-chief: Balázs SZENT-IVÁNYI

Co-Editors:

  • Péter MARTON (Corvinus University, Budapest)
  • István KÓNYA (Corvinus University, Budapest)
  • László SAJTOS (The University of Auckland)
  • Gábor VIRÁG (University of Toronto)

Associate Editors:

  • Tamás BOKOR (Corvinus University, Budapest)
  • Sándor BOZÓKI (Corvinus University Budapest)
  • Bronwyn HOWELL (Victoria University of Wellington)
  • Hintea CALIN (Babeş-Bolyai University)
  • Christian EWERHART (University of Zürich)
  • Clemens PUPPE (Karlsruhe Institute of Technology)
  • Zsolt DARVAS (Bruegel)
  • Szabina FODOR (Corvinus University Budapest)
  • Sándor GALLAI (Corvinus University Budapest)
  • László GULÁCSI (Óbuda University)
  • Dóra GYŐRFFY (Corvinus University Budapest)
  • György HAJNAL (Corvinus University Budapest)
  • Krisztina KOLOS (Corvinus University Budapest)
  • Alexandra KÖVES (Corvinus University Budapest)
  • Lacina LUBOR (Mendel University in Brno)
  • Péter MEDVEGYEV (Corvinus University Budapest)
  • Miroslava RAJČÁNIOVÁ (Slovak University of Agriculture)
  • Ariel MITEV (Corvinus University Budapest)
  • Éva PERPÉK (Corvinus University Budapest)
  • Petrus H. POTGIETER (University of South Africa)
  • Sergei IZMALKOV (MIT Economics)
  • Anita SZŰCS (Corvinus University Budapest)
  • László TRAUTMANN (Corvinus University Budapest)
  • Trenton G. SMITH (University of Otago)
  • György WALTER (Corvinus University Budapest)
  • Zoltán CSEDŐ (Corvinus University Budapest)
  • Zoltán LŐRINCZI (Ministry of Human Capacities)

Society and Economy
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Phone: (36 1) 482 5406
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2023  
Scopus  
CiteScore 1.5
CiteScore rank Q2 (Sociology and Political Science)
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Society and Economy
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Society and Economy
Language English
Size B5
Year of
Foundation		 1972
Volumes
per Year		 1
Issues
per Year		 4
Founder Budapesti Corvinus Egyetem
Founder's
Address		 H-1093 Budapest, Hungary Fővám tér 8.
Publisher Akadémiai Kiadó
Publisher's
Address		 H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible
Publisher		 Chief Executive Officer, Akadémiai Kiadó
ISSN 1588-9726 (Print)
ISSN 1588-970X (Online)

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