Year of Graduation
The Connection between Economic Freedom and Life-satisfaction : Cross-country Analysis
The research contributes to the debate on the topic, which has been studied a lot in the last 25 years: what makes us happier. The paper aims to analyze the connection between various indicators of economic freedom and life satisfaction in term of countries. In this research a number of studies, which include opposite views on the role of economic freedom, has been analyzed. It also includes the review of the terms happiness and satisfaction. In this study were postulated the aim and a number of objectives, which were tested with data covering 140 countries mainly about the economic freedom index made by the Heritage Foundation and about life satisfaction and happiness level, which are interchangeable here, based on the World Happiness Report. Our findings confirm that life satisfaction is positively related to economic freedom. It is also proved that logarithm of gross domestic product and life expectancy are strongly positively connected with life satisfaction.