Divine Economics Values and Wellbeing in Pakistan (An Empirical Application of Divine Economics Survey 2017)

  • Syed Ali Abidi University of Azad Jammu & Kashmir
  • Asghar Ali Applied Economics Research Center University of Karachi
Keywords: Wellbeing, Divine Economics, Moral Values, Happiness, Satisfaction

Abstract

Wellbeing, happiness and satisfaction are analogous terms that are widely used in literature under economics of happiness. The debate on happiness was started by Easterlin in early 90’s, when he proposed that “income is not the only source of wellbeing”. There are other factors such as; marital status, socioeconomic factors, job status, family ties and democratic participation of individuals, that are also the major source of wellbeing. This current study investigated that other than these indicators of wellbeing, how human values (ethical-moral values) affect the wellbeing. A multidisciplinary approach was employed to study the effect of values on wellbeing. For such analysis Divine economics methodology was adopted by using divine economics model of wellbeing and values of Hamdani (2014). The study utilized survey data of Pakistan and Azad Jammu & Kashmir (AJ&K), collected through Divine Economics Survey 2017 on wellbeing and values along with the focus groups and in depth interviews as a part of multi-methodology to deeply understand wellbeing and its interrelationships with values in the national context.

Author Biography

Asghar Ali, Applied Economics Research Center University of Karachi

Assistant Professor

Department of Economics

Applied Economics Research Center 

University of Kararchi

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Published
2021-07-20