Lecture

Ethical Challenges of Engineer: Wealth and Happiness Correlation

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In course

HUM-412: The ethics of engineering I

This course provides engineers entering the workforce with a hands-on approach to figuring out what to do in ethically challenging professional situations. ...

Description

This lecture explores the correlation between wealth and happiness, focusing on the marginalist approach to determine the wealth threshold for happiness. It discusses studies confirming the relationship, the impact of income on well-being, and the influence of economic factors on happiness. The presentation delves into the ethical implications of income inequality, the relative size of wealth, and the importance of social status in determining satisfaction. It also examines the effects of economic growth on happiness, the role of social determinants in health, and the concept of common goods. The lecture concludes by discussing the need for cooperation and collective intelligence to address global challenges.

Official source

Ontological neighbourhood

Health sciences

Health policy: Topics in health policy

Related concepts (32)

Health equity

Health equity arises from access to the social determinants of health, specifically from wealth, power and prestige. Individuals who have consistently been deprived of these three determinants are significantly disadvantaged from health inequities, and face worse health outcomes than those who are able to access certain resources. It is not equity to simply provide every individual with the same resources; that would be equality. In order to achieve health equity, resources must be allocated based on an individual need-based principle.

Public health

Public health is "the science and art of preventing disease, prolonging life and promoting health through the organized efforts and informed choices of society, organizations, public and private, communities and individuals". Analyzing the determinants of health of a population and the threats it faces is the basis for public health. The public can be as small as a handful of people or as large as a village or an entire city; in the case of a pandemic it may encompass several continents.

Marginalism

Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility. It states that the reason why the price of diamonds is higher than that of water, for example, owes to the greater additional satisfaction of the diamonds over the water. Thus, while the water has greater total utility, the diamond has greater marginal utility.

Marginal utility

In economics, utility refers to the satisfaction or benefit that consumers derive from consuming a product or service. Marginal utility, on the other hand, describes the change in pleasure or satisfaction resulting from an increase or decrease in consumption of one unit of a good or service. Marginal utility can be positive, negative, or zero. For example, when eating pizza, the second piece brings more satisfaction than the first, indicating positive marginal utility.

Health education

Health education is a profession of educating people about health. Areas within this profession encompass environmental health, physical health, social health, emotional health, intellectual health, and spiritual health, as well as sexual and reproductive health education. Health education can be defined as the principle by which individuals and groups of people learn to behave in a manner conducive to the promotion, maintenance, or restoration of health.

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