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008			230123b ||||| |||| 00| 0 eng d
020			_a9780367862985
082			_a337 _bDOR
100			_aD'Orlando, Fabio _99202
245			_aEconomic change and wellbeing: _bthe true cost of creative destruction and globalization
260			_bRoutledge _aLondon _c2021
300			_aix, 134 p.
365			_aGBP _b120.00
504			_aTable of Contents Introduction 1. Causes and consequences of economic change 2. Traditional (optimistic) theories: growth without regret 3. The true costs of economic change 4. Some recipes to increase the social return of creative destruction 5. Conclusions: looking for sustainable economic change
520			_aTechnological progress and globalization have generated indisputable benefits, but also relevant costs, such as growing economic inequality, economic fluctuations, and financial instability. Mainstream economics has usually considered these costs as temporary, evenly distributed, and more than compensated by the gains of the phases of economic expansion. In this book, which focuses mainly (though not only) on the labor market, the authors contend that the major costs of the intensified process of creative destruction, through which economic change proceeded, have been ignored and the benefits overrated, thus incorrectly estimating the net impact of economic growth on subjective wellbeing. The book argues that the positive consequences of economic change and globalization may not compensate for the negatives, because psychological losses are felt more strongly than gains (due to loss aversion) and the costs are unequally distributed (those on low incomes disproportionately suffer more). The result is an overall reduction in wellbeing and therefore appropriate policies are necessary to allow more people to enjoy the benefits of technological progress without suffering the costs. The authors develop a comprehensive framework in which the socio-psychological context and educational level of a community determine the most suitable policies both for the short and for the long run. The book makes an invaluable contribution to the literature on economic growth and development, labor economics, the economics of wellbeing, and applications of behavioral economics. The readers that may be interested in this book are economists and other social scientists, but also general readers, since the analysis is maintained simple and accessible. University teachers can use the book for courses on economic growth and development, on labor economics, on the economics of human capital, on the economics of wellbeing, and on applications of behavioral economics.
650			_aManpower policy _95326
700			_aFerrante, Francesco _911562
700			_aOliverio, Albertina _911563
942			_2ddc _cBK