Welfare and well-being have traditionally been gauged by using income and employment statistics, life expectancy, and other objective measures. The Economics of Happiness, which is based on people’s reports of how their lives are going, provides a complementary yet radically different approach...

We argue that past events experienced during the critical ages of 18-25 can influence an individual's future entrepreneurship based on the "impressionable years hypothesis". Accordingly, we empirically investigate the relationship between bad economic conditions during youth and later-life...