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Lost in Transition: Life Satisfaction on the Road to Capitalism

Author(s) / Creator(s)

Easterlin, Richard A.

Abstract / Description

In the transition from socialism to capitalism in Eastern Europe life satisfaction has followed the V-shaped pattern of GDP but failed to recover commensurately. In general, increased satisfaction with material living levels has occurred at the expense of decreased satisfaction with work, health, and family life. Disparities in life satisfaction have increased markedly with those hardest hit being the less educated and persons over age 30; women and men have suffered about equally. The asymmetric response of life satisfaction to decreases in GDP in transition countries and increases in GDP in non-transition countries is arguably due to loss aversion.

Keyword(s)

Zufriedenheit Wechsel Kapitalismus Sozialismus Zufriedenheit Wechsel Kapitalismus Sozialismus happiness transition capitalism socialism loss aversion

Persistent Identifier

Date of first publication

2008

Is part of series

Forschungsinstitut zur Zukunft der Arbeit/ Institute for the Study of Labor: IZA Discussion Paper Series;3409

Citation

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  • Author(s) / Creator(s)
    Easterlin, Richard A.
  • PsychArchives acquisition timestamp
    2022-11-17T11:03:22Z
  • Made available on
    2008-06-02
  • Made available on
    2015-12-01T10:32:07Z
  • Made available on
    2022-11-17T11:03:22Z
  • Date of first publication
    2008
  • Abstract / Description
    In the transition from socialism to capitalism in Eastern Europe life satisfaction has followed the V-shaped pattern of GDP but failed to recover commensurately. In general, increased satisfaction with material living levels has occurred at the expense of decreased satisfaction with work, health, and family life. Disparities in life satisfaction have increased markedly with those hardest hit being the less educated and persons over age 30; women and men have suffered about equally. The asymmetric response of life satisfaction to decreases in GDP in transition countries and increases in GDP in non-transition countries is arguably due to loss aversion.
    en
  • Persistent Identifier
    https://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:bsz:291-psydok-16037
  • Persistent Identifier
    https://hdl.handle.net/20.500.11780/1066
  • Persistent Identifier
    https://doi.org/10.23668/psycharchives.8991
  • Language of content
    eng
  • Is part of
    IZA Discussion Paper Series No. 3409
  • Is part of series
    Forschungsinstitut zur Zukunft der Arbeit/ Institute for the Study of Labor: IZA Discussion Paper Series;3409
  • Keyword(s)
    Zufriedenheit
    de
  • Keyword(s)
    Wechsel
    de
  • Keyword(s)
    Kapitalismus
    de
  • Keyword(s)
    Sozialismus
    de
  • Keyword(s)
    Zufriedenheit
    de
  • Keyword(s)
    Wechsel
    de
  • Keyword(s)
    Kapitalismus
    de
  • Keyword(s)
    Sozialismus
    de
  • Keyword(s)
    happiness
    en
  • Keyword(s)
    transition
    en
  • Keyword(s)
    capitalism
    en
  • Keyword(s)
    socialism
    en
  • Keyword(s)
    loss aversion
    en
  • Dewey Decimal Classification number(s)
    150
  • Title
    Lost in Transition: Life Satisfaction on the Road to Capitalism
    en
  • DRO type
    report
  • Visible tag(s)
    PsyDok