lykkeøkonomi

Lykkøkonomi, or happiness economy, is a concept in economics and public policy that places human well-being and subjective life satisfaction at the center of economic analysis and policy design. It argues that policy success should be judged by improvements in people’s well-being rather than by GDP growth alone. Proponents emphasize a broad set of determinants of happiness, including health, secure income, social relationships, education, governance, environmental quality, and work-life balance.

Measurement relies on both subjective indicators, such as self-reported life satisfaction and happiness, and objective indicators, such as health outcomes, income inequality, unemployment, social trust, and environmental performance. International efforts include the World Happiness Report, the OECD well-being framework, and the Bhutanese concept of Gross National Happiness, as well as national well-being assessments and impact studies tied to policy decisions.

In policy terms, lykkeøkonomi advocates assessments of policies through their impact on well-being, possibly using well-being budgets or impact assessments, and prioritizing programs that improve health, education, social protection, mental health, and environmental sustainability. Critics caution that measuring happiness is challenging, culturally variable, susceptible to manipulation, and may conflict with other objectives; nevertheless, the approach has influenced public debate and several governments’ budgeting and evaluation practices, including examples such as New Zealand's Wellbeing Budget.