We economists specialize in what we do. So economists think we’re the gods of income; we tend to think about well-being in terms of income, and we don’t worry too much about the other things that contribute to well-being, such as health, education, or participating in a democratic society. […] When we think about well-being, we can’t just think about wealth. That’s one of the things we’ve learned from the Gallup World Poll — how important many other elements are to a person’s satisfaction with his life.
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