The Economy of Happiness: An Exploration for Guiding Principles

Abstract

The Commons have been recognised throughout history as an inalienable right to access whatever is necessary to ensure life and a livelihood. The commons are free and allow citizens to generate food and income. The tragedy of the commons was described over a century ago, pointing to the loss of clean air, freshwater, and green pastures. Worse, the liberal economic model permits each player to increase its benefit from the commons, ultimately leading to its irreparable destruction. Once the commons are affected by human interventions, then the community will have less resilience. When a crisis hits, then the toll will be high. The article studies the framework conditions that permit a reversal of these trends leading to the definition of the framework conditions that will permit the design of a production and consumption model where happiness has a chance. These conditions include the zero-waste concept, no one is producing something no one else desires; the full employment, meaning that the community permits everyone to contribute to the best of their abilities; and no cheating, or everyone plays according to the rules of Nature and operates within the tradition and culture while embracing innovations.