Economics and Psychology of Happiness

Lok Sang Ho, a past President of The Hong Kong Economic Association, was Director of the Pan Sutong Shanghai- HK Economic Policy Research Institute and Head of the Economics Department, Lingnan University, Hong Kong. Presently an Adjunct Professor of the Academy for Applied Policy Studies and Education Futures of the Education University of Hong Kong, his research spans many areas, from housing to education to psychology to international finance. He has authored several books including Psychology and Economics of Happiness, Public Policy and the Public Interest, and Health Policy and the Public Interest.

"I ... found [this book] thought-provoking, entertaining, and informative. It has enough poetry for the romantically inclined and some equations for the traditionalist. The language and style are engaging, and it is easy to read considering the juxtaposition of poems and equations. Will having read this book improve my life, at least in the long run ..., and help me maximise my utility in a more rational fashion? I certainly hope so."- Steve Dobson, Professor, Australian National University; Review in Economic Record, DOI: 10.1111/1475-4932.70022"Ho’s approach is sound on the research and evidence but also serves as a practical guide for living and for readers to utilize as a guidebook to stimulate reflection and ultimately action- and perhaps change in their own lives. I am certain for some readers the experience of reading this book will be transformative in positive ways that lead to more lives well lived and to positive social change more broadly."- Grant J. Rich, Contributing Faculty, Walden University, USA

• Acknowledgements ixForeword xPreface xiii1 Introduction to the economics of life 12 Human nature: human needs, character strengths and weaknesses 153 Love and the economics of love 274 The role of culture in household production and sustainable development 455 Mental capital and habit formation, with a digression to spiritual capital 596 The happiness formula, the role of voluntary action, and values in action 697 Marriage, mental capital, and happiness 898 Insight and fortitude 1019 Engagement and self-actualization: vanity versus achievement and self-worth 11610 Three happinesses and holistic personal growth as success 12811 Regrets and worries, stresses, too many choices, and other negative emotions 14312 Corporate LIFE and happiness at work 15813 Psychometric properties of LIFE mental capital scale across different populations 171Epilogue: Pray humans will become truly civilized 187Bibliography 201Index 210