The role of money in producing sustained subjective well-being seems to be seriously compromised by social comparisons and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation...

The capabilities approach has emphasized that inequalities can be analyzed in various dimensions of human functioning. Indicators of these inequalities can be incorporated into assessments of well-being. The capabilities approach also highlights the intrinsic importance of agency and...