Économie et statistiques N° 110/2020 Economic growth and well-being beyond the Easterlin paradox

Despite short recessions, Luxembourg’s economy has grown nearly continuously since 1981. Nevertheless, the share of residents declaring to be satisfied with their lives while relatively high has remained nearly unchanged. This is surprising, especially if we consider the fact that life satisfaction increased over the same period in countries such as France and Netherlands. In fact, the life satisfaction trend in Luxembourg is one of many examples of the Easterlin Paradox, as discussed in a recent publication by STATEC entitled Economic growth and well-being beyond the Easterlin paradox. This publication is the first study to analyze the well-being of people in Luxembourg over a period of more than 30 years.