Recent happiness studies by psychologists, sociologists and economists have produced many interesting results. These have important implications, including the need to focus less on purely objective (including economic) variables and more on subjective well-being. In particular, the focus on GDP...

The relation between immigration and the economic welfare of residents is analyzed for resource-rich economies (such as Australia) both under competitive conditions and when various distortions are present. Immigration provides efficiency gains for residents under distortion-free competition for...