Penny Scott blogs Richard Tarnoff’s recent article:
…only within the past century have economists decided that the purpose of human activity is no longer the pursuit of happiness but the pursuit of wealth. Eighteenth- and 19th-century economists, including Britain’s Adam Smith and Thomas Malthus, considered happiness to be the goal of all economic activity.
I want to rest on this thought and come back in a bit with a slice of Austrian economist F. A. Hayek. But first, a quiet moment to consider the economics of happiness.