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Questions and Answers
According to the Cantril Ladder concept, what does the top of the ladder represent?
What does Donald Thompson consider the pursuit of happiness to be?
In the context of goods, what does 'excludable' mean?
What does 'rivalry' refer to in relation to goods?
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Which country holds the top spot in the World Happiness Report according to Sustainable Development Solutions Network (SDSN)?
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Study Notes
The Good Life
- The phrase "living the good life" implies living in comfort and luxury with few problems or worries.
Cantril Ladder
- The Cantril Ladder is a main evaluation question asked in the Gallup World Poll used by the Sustainable Development Solutions Network (SDSN) in the World Happiness Report.
- It is a self-assessment tool that asks individuals to rate their current life on a scale from 0 (worst possible life) to 10 (best possible life).
- The ladder is used to gauge people's subjective well-being and happiness.
World Happiness Report
- The World Happiness Report has been published annually for the past five years.
- Norway ranked 1st in the report, while the Philippines ranked 72nd.
Private Goods
- A private good is a product that must be purchased to be consumed, and its consumption by one individual prevents another individual from consuming it.
- Characteristics of private goods include:
- Excludability: one can be prevented from benefitting from a good if they haven't paid for it.
- Rivalry: a good can only be possessed or consumed by a single user.
Donald Thompson
- Donald Thompson is a professor of Food Science at Penn State University Park.
- He states that the pursuit of happiness is commonly cited as a private good.
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Description
Take a test inspired by Robert Waldinger's talk on living the good life and happiness. Imagine yourself on a numbered ladder from zero to ten, where the top is the best possible life for you and the bottom is the worst. Answer questions to find out where you stand on the ladder.
