ECONOMICS OF HAPPINESS IN THE INTERPRETATION OF R. EASTERLIN
The article considers one of the latest developments in the study of economic theory. The author presents an original definition of the subject of the economics of happiness. The idea of the Easterlin Paradox is discussed. The author explores the strengths and weaknesses of the reasoning behind the paradox, the core of which is the effect of relative and absolute income. Significant attention is paid to the analysis of the discussion around the content of the category «happiness» as a complex construct defined by a large number of internal and external determinants that affect life satisfaction. The author suggests an algorithm that helps to present the factors of happiness as a set of circumstances that directly or indirectly affect changes in the level of human happiness. Current system of economic and non-economic factors that determine the level of subjective life satisfaction is examined within the framework of the proposed concept. The results of the research can be used for educational and practical purposes.