Divine Economics Values and Wellbeing in Pakistan (An Empirical Application of Divine Economics Survey 2017)
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.
Becker, Gary S. "A Theory of the Allocation of Time." The economic journal 75, no. 299 (1965): 493-517..
Diener, Ed, Eunkook M. Suh, Richard E. Lucas, and Heidi L. Smith. "Subjective well-being: Three decades of progress." Psychological bulletin 125, no. 2 (1999): 276.
Easterlin, Richard A. "Does economic growth improve the human lot? Some empirical evidence." In Nations and households in economic growth, pp. 89-125. Academic Press, 1974..
Easterlin, Richard A. "Does money buy happiness?." The public interest 30 (1973): 3.
Graham, Carol, and Andrew Felton. "Does inequality matter to individual welfare? An initial exploration based on happiness surveys from Latin America." (2005): 158.
Hamdani, Syed Nisar Hussain. "Religious Orientation as a Factor in Time Allocation: Evidence from Cross Section Pakistani Data." PhD diss., Quaid-i-Azam University Islamabad, Pakistan, 2005.
Hamdani, Syed Nisar Hussain. “Ethics, Human Interdependence and Future Lifestyles”, A Divine Economics Approach. Presented in 10th International Doctrine Conference on Mahdism, Tehran, published in The Bright Future Journal, Qom Iran. 2014.
Hamdani, Syed Nisar Hussain. “Role of Values, Social Capital and Spiritual Capital in Economic Behaviors”. A report submitted to HEC. 2015.
Hamdani, Syed Nisar Hussain, “Divine Economics Survey, Values & Wellbeing Module”, KIE, University of AJ&K, Muzaffarabad. 2017.
Kreitzer, Mary Jo. "Spirituality and well-being: Focusing on what matters." (2012): 707-711.
Levinson, Arik. Happiness, behavioral economics, and public policy. No. w19329. National Bureau of Economic Research, 2013.
Mahadea, Darma. "On the economics of happiness: the influence of income and non-income factors on happiness." South African Journal of Economic and Management Sciences 16, no. 1 (2013): 39-51.
Mincer, Jacob. "Labor force participation of married women: A study of labor supply." In Aspects of labor economics, pp. 63-105. Princeton University Press, 1962.
Munir, Fozia, Ashar Awan, and Syed Nisar Hussain Hamdani. "THE IMPACT OF WORSHIP ON INDIVIDUAL'S WELL-BEING." Journal of Advanced Research in Law & Economics (De Gruyter Open) 3, no. 2 (2012).
Naqvi, Gul Muhammad. “The First Ever Visual Style Presentation of Jami'al-Sa'adat, The Collector of Felicities”. Ansariyan Publications, ISBN: 978-964-438-909-2 138. 2012.
Naraqi, Muhmmad Ibi Dhar. “Jami'al-Sa'adat. The Collector of Felicities”. [Tr. ShahyarSa'dat] Al Tawhid Islamic Journal. 1998
Oswald, Andrew J. "Happiness and economic performance." The economic journal 107, no. 445 (1997): 1815-1831.
Van Praag, Bernard MS, Paul Frijters, and Ada Ferrer-i-Carbonell. "The anatomy of subjective well-being." Journal of Economic Behavior & Organization 51, no. 1 (2003): 29-49.
Sen, A. K. (1987) On Ethics and Economics. Oxford: Blackwell.