Economic Growth is the essence of capitalism and it has the paradoxical relation on happiness and an inverse relationship with inequality. Capitalism is fueling the inequality in terms of access, opportunities, production, and distribution. The paper entitled “Nexus of Economic Growth on Happiness and Inequality” is reexamined the paradox which estimated the effect of economic growth and income on happiness and inequality by analyzing 1080 observations from 2008 to 2016 period covered 120 countries. The main explained variable of this paper is happiness and major interested explanatory variables are GDP per capita, GDP growth and inequality. The paper applied fixed and random effect and Linear Dynamic Panel Data (LDPD)/generalized method of moment estimation method as its estimation strategy. This paper investigated the positive association between GDP growth and income with happiness and found that the increase of economic growth and income lead to increase inequality which has a negative association with happiness.

It is remaining a big question in happiness economics, what is the common motto of human beings? What human beings want to achieve? Are these, money, good job, position, power, peace, good living condition, good health, good family, good environment and what others? All researchers from different disciplines are investigating to solve this economic problem and Most of the researchers agreed that happiness is the common aim of everyone in the world. The paper entitled “Does Economic Freedom Create Happiness or Inequality?” is estimated the effect of economic freedom on happiness by using other control variables like Gross Domestic Product growth, per capita and inequality. The paper analyzed the panel data covering 120 countries from 2008 to 2016. The fixed and random effect, the Generalized Least Squares, First in Difference and Linear Dynamic Panel Data/generalized method of moments estimation method are applied as the econometric strategies in this paper. The results found that the statistically significant and strong linear positive association between economic freedom and happiness in overall sampled countries and also found the positive linear association between income with happiness and a negative association between economic freedom and inequality and inequality and happiness.

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