Category: Poverty

In one recent study examining money’s effect on happiness, Kahneman, and others, have found that people with a relatively high income, although more satisfied with their lives, are barely happier at any given moment than those with a significantly lower income. The age-old myth that money buys happiness needs to be refined, as does the competing myth that wealth does not matter.What he’s found in comparative studies of nations is that both the level of corruption and the degree of trust in society are important predictors of well-being. “Corruption is a measure of trust in society, and trust, it turns out, should be essential to well-being.”
Countries where the level of trust in society is very low have a lot of difficulty thriving economically—so you need a certain level of trust to get moving.
“But even when you look at the Western world where GDP is more or less constant, you find large effects of trust, and that’s why Northern Europe always emerges as the best place to be in the world in terms of well-being research.”
Can this be applied in developing countries? “If there is a way of encouraging increasing trust in society—and that should probably start with trust in institutions—that is going to make a contribution to GDP through the rule of law, respect for property, and so on. It will have an extra contribution to human welfare because happier societies are ones where people trust each other and spend a fair amount of time catering to social needs.”
via Finance & Development, September 2009 – Questioning a Chastened Priesthood.

some caveats:
This type of stimulus is actually more of a way to help the poorest of the poor survive. A way to transfer necessary cash so the super below poverty line people have a way to feed themselves. This makes me think that it is more aptly called a poverty aleviation stopgap.
The AFP called the government department, ministries. This probably means that the editor/copy editor/proof reader forgot that this is going to be read by filipinos. If they were aiming for a more International bent and that caused them to change departments to ministry, I feel that they should not have.
The environmentalist in me is very happy!
The realist fears most money would go to corruption.
Jobless Filipinos to plant trees
Agence France-Presse
First Posted 19:54:00 02/12/2009
Filed Under: Unemployment, Forest and forest management, Environmental Issues
MANILA, Philippines—President Gloria Macapagal-Arroyo is to pay 180,000 people to plant trees across the archipelago as part of efforts to ease the fallout from the global economic meltdown, the government said Thursday.
The P7 billion ($148.7 million) program, to be put in place over the next six months, will be funded by government ministries, Executive Secretary Eduardo Ermita told reporters.
More than 15,000 people have lost their jobs in the Philippines over the past two months, mostly in the crucial electronics and garments sectors, amid plunging demand for Filipino exports.
Jobless Filipinos to plant trees – INQUIRER.net, Philippine News for Filipinos.