Philippine E-Journals

The Contributors

Michael M. Alba

Discipline: Economics

 

Abstract:

Consumption aclivities-eating and drinking, commuting, communicating with others, indulging in a sport or a hobby, getting an education – constitute an important dimension of the material basis of people's well-being. How well people live – the extent to which they are able to fulfill themselves, to realize their goals, and to exercise their right to pursue happiness – depends in large part on what they do. In a highly monetized economy, however, these activities leave a trail of expenditures. Thus, one way by which people's welfare may be inferred is by studying the patterns of their consumption outlays.