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The Economics of Happiness: An Interview with Professor Milena Nikolova
Professor Milena Nikolova's research explores the connection between money, happiness, and work, challenging traditional economic views and emphasizing the importance of well-being.
Dutch
Netherlands
Labour MarketNetherlandsArtificial IntelligenceEconomicsInequalityProductivityHappinessWork
Rijksuniversiteit GroningenUniversity Of MarylandBrookings InstitutionBruegel
Milena Nikolova
- What is the central theme of Professor Nikolova's research?
- Professor Milena Nikolova's research explores the relationship between money and happiness, challenging conventional economic perspectives that solely focus on growth and material wealth.
- What is the impact of perceived inequality on individual well-being?
- Perceived inequality significantly reduces life satisfaction, even if the inequality isn't actually increasing. This effect is twice as potent as job loss, highlighting the importance of addressing perceptions of fairness.
- How does employee happiness impact productivity and workplace dynamics?
- Nikolova's research indicates that feelings of meaning and purpose at work, rather than salary or promotions, are key drivers of employee well-being and productivity. This impacts absenteeism and employee retention.
- How does Nikolova's research address the seemingly subjective nature of happiness?
- While happiness is subjective, Nikolova argues it's measurable through surveys, physiological markers (like cortisol levels), and even long-term voting patterns. These diverse indicators provide consistent evidence.
- What is one of the key questions Nikolova aims to answer regarding work motivations?
- Nikolova investigates why some prioritize monetary gain from work while others focus on societal contribution. Early findings suggest these orientations are deeply ingrained and potentially established in young adulthood but possibly influenced by life events.