The Power of Hope: How the Science of Well-Being Can Save Us from Despair

Economist Carol Graham argues that hope is an important metric of economic and social well-being, and that researchers are tracking trends in hope as a key factor in understanding the rising numbers of "deaths of despair" and premature mortality. She argues that public policy problems can't be solved without hope and describes strategies for restoring hope in populations where it has been lost.

Format: Hardback
Length: 200 pages
Publication date: 25 April 2023
Publisher: Princeton University Press

In a society characterized by profound disparities in income and opportunity, why should economists be concerned with how individuals perceive their well-being? The reality is that feelings of well-being serve as crucial predictors of future life outcomes. In this timely and groundbreaking book, economist Carol Graham makes a compelling case for the significance of hope, a dimension that has received relatively limited attention within the field of economics. Given the ongoing mental health crisis in America, exacerbated by the COVID-19 pandemic, hope emerges as perhaps the most vital measure of well-being, and researchers are actively tracking trends in hope as a key factor in understanding the rising prevalence of "deaths of despair" and premature mortality.

Graham, a renowned expert in the study of well-being, highlights empirical evidence demonstrating the positive impact of hope on individuals' life outcomes while underscoring the destructive power of despair. These findings warrant further exploration. Graham delves into the potential of novel well-being metrics as tools for tracking despair, presents findings from recent surveys of hope among low-income adolescents, and considers the implications of these results for the futures of these young adults.

Graham poses thought-provoking questions about the prevalence of despair in the wealthiest country in the world and seeks to identify what factors are contributing to this phenomenon. She argues that public policy challenges, ranging from joblessness and labor force dropout to the lack of affordable healthcare and inadequate public education, cannot be effectively addressed without a sense of hope. Drawing on research from well-being and other disciplines, Graham outlines strategies for restoring hope in populations that have experienced a loss of it.

The urgency to address despair and restore hope is paramount to the future of America. By recognizing the critical role of hope in shaping individuals' lives and communities, policymakers and individuals can work together to create a more inclusive and prosperous society.

Weight: 364g
Dimension: 222 x 145 x 23 (mm)
ISBN-13: 9780691233437