Abstract
The standard economic textbook is very clear about how to alleviate the burden of involuntary unemployment. If one fully compensates people who become unemployed for the associated income loss, they will not suffer from unemployment at all. In fact, they will become strictly better off. Full income compensation guarantees the same consumption opportunities as before job loss and staying jobless allows the unemployed to enjoy more leisure: receiving more money but not having to work thus raises their well-being.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2017 Springer International Publishing AG
About this chapter
Cite this chapter
Schöb, R. (2017). Receiving Money and Not Having to Work Raises Happiness. In: Frey, B., Iselin, D. (eds) Economic Ideas You Should Forget. Springer, Cham. https://doi.org/10.1007/978-3-319-47458-8_53
Download citation
DOI: https://doi.org/10.1007/978-3-319-47458-8_53
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-47457-1
Online ISBN: 978-3-319-47458-8
eBook Packages: Economics and FinanceEconomics and Finance (R0)