In a fascinating YouTube video titled “Interview with Paul Frijters, Professor of Wellbeing Economics,” Professor Frijters discusses a range of topics related to well-being economics. He shares insights into his journey in the wellbeing literature, the impact of COVID-19 and lockdowns on wellbeing, the power dynamics during the pandemic, the rediscovery of civil society, and the significance of diversity and experimentation. Throughout the interview, Professor Frijters emphasizes the importance of warm social relationships as the key driver of well-being and emphasizes the need to prevent similar situations from occurring in the future through a comprehensive understanding of the whole system. Despite facing backlash for his studies against the mainstream narrative, he remains optimistic about the future and the potential for robust debate to keep society sharp.
Table of ContentsIntroductionGetting into the Well-being LiteratureImpact of COVID-19Collateral Damage from LockdownsVilification and OstracismWell-being Economists’ ResponseImportance of Human ConnectionPower Grab by ElitesRediscovery of Civil SocietyDifferent Countries’ ResponsesImportance of DiversityChallenges in EuropeConclusionFAQs (Frequently Asked Questions)Related Articles
Introduction
The “Interview with Paul Frijters, Professor of Wellbeing Economics” features an in-depth conversation with Professor Frijters, an expert in wellbeing economics. Throughout the interview, Professor Frijters shares his knowledge and insights into various aspects of well-being and the impact of COVID-19 on society.
Getting into the Well-being Literature
Professor Frijters explains how he became interested in well-being literature during his Ph.D. studies. He came across the concept of life satisfaction, which seeks to capture individuals’ overall satisfaction with life. Frijters introduces the concept of “Welby,” a unit of life satisfaction on a 0-10 scale. He emphasizes the significance of warm social relationships as the main driver of well-being and highlights the importance of good social connections for a happy life.
Impact of COVID-19
The interviewer asks Professor Frijters about the impact of COVID-19 and how he, as an expert in well-being economics, approached the pandemic. Frijters explains that he used existing literature on life satisfaction to predict the effects of social isolation, school closures, and travel restrictions. Through data analysis, he estimated the infection fatality rate (IFR) to be around 0.2% and emphasized that the majority of deaths occurred among individuals over 80 years old with comorbidities. Frijters also highlighted the cost of isolation, estimating a decline of 5-10% in people’s well-being, equating to millions experiencing a decrease in their overall satisfaction.
Collateral Damage from Lockdowns
Professor Frijters discusses the collateral damage caused by lockdown restrictions. He points out that the number of deaths resulting from a few weeks of lockdowns would outweigh the entire budget allocated to tackle the pandemic. Frijters criticizes the disregard for data exhibited by authorities and some academics and emphasizes the need to engage with those who recognize the detrimental effects of such measures. Drawing from his expertise in whole system understanding, Frijters aims to contribute to preventing similar situations from occurring in the future.
Vilification and Ostracism
This section focuses on the vilification experienced by those with different ideas and opinions. Professor Frijters shares personal experiences of being looked down upon for being different during a bicycle trip through Europe, particularly behind the Iron Curtain. He discusses the vulnerability of populations and the increase in opiate overdoses during the COVID era, highlighting how the consequences outweigh the fatalities from the illness itself. The interviewer asks about Professor Frijters’ book and his recommendations for t…
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