Subscribe to this blog's feedAn interesting piece of research this morning (via Alea) - on the use of blood pressure as a measure of happiness. The use of happiness as a goal of public policy is becoming popular, with economists such as Lord Layard getting increasing amounts of attention. The problem is that happiness, unlike GDP, is not easily measured, especially not between countries where translation issues get in the way. Fortunately, according to David Blanchflower and Andrew Oswald's paper, it turns out that national blood pressure - or at least incidence of hypertension - is linked fairly closely to national happiness, whether you call it "Glucklichkeit" or "bonheur". (Generally happy nations, such as Denmark, have low rates of hypertension; unhappy nations like Italy have high rates.) So international comparisons of happiness are sound; and, in addition, we have a new and easier way of measuring it.
Meanwhile, in a move likely to reduce the cardiovascular happiness of a lot of investors, Moody's has decided to change its rating methodology in order to upgrade anything up to 200 banks to Aaa status. The reactions from analysts have been, well, hostile. New York-based Creditsights has already stopped using Moody's, for reasons it explains in the headline of its report "Moody's Makes Aaas of Itself".
Comments (1)
First, I must confess I have not read the research paper itself.
Second, I must point out. Risk says "blood pressure... is linked fairly closely to national happiness". Alea says "nations that regarded themselves as happy reported lower levels of hypertension. " The phrase "regarded themselves" is very important - in fact, it is the crux.
Happiness is not well-defined and it is probably not very wide off the mark to say that the perception of happiness is linked to a particular culture. The research is fine - it just should not extrapolate the findings to other cultures; and it does seem to do that since it time and again uses phrases like "national happiness", "mental health" etc.
FT says "It is now well established that people in richer countries tend to be happier than those in poorer ones." My personal experience however does not support that at all - in fact it is quite the contrary. My question to FT is - "Please, who established it and how?". I have a deep suspicion the establishment is based on research papers such as this again.
Also, I think it strange there is no mention of smiles (the real ones not the volatility ones!). Isn't it obvious that happpiness would be linked to the number of smiles in a day?
Posted by Chandan D Nath | March 6, 2007 9:45 AM
Posted on March 6, 2007 09:45