“External effects are everywhere. Almost every major transaction we make affects other people who are not a party to the transaction. When someone buys a Lexus, he sets a new standard for the street. When a firm advertises a Barbie… — Richard Layard Copy Share Image
“It is actually a rather sorry tale. In the late nineteenth century most English economists thought that economics was about happiness. They thought of… — Richard Layard Copy Share Image
“We need a revolution in academia, with every social science attempting to understand the causes of happiness.” — Richard Layard Copy Share Image
“External effects are everywhere. Almost every major transaction we make affects other people who are not a party to the transaction. When someone buys… — Richard Layard Copy Share Image
“The more television people watch, the more they overestimate the affluence of other people. And the lower they rate their own relative income. The… — Richard Layard Copy Share Image
