Are people happier if they experience freedom from regulations, and how do individual attitudes towards liberalization influence personal life satisfaction? Based on the data from European and World Values Surveys and the Economic Freedom of the World project, we find evidence for positive...

Recent empirical investigations show that ‘good institutions’, in the form of democracy and economic freedom, are related to elevated scores of subjective well-being across countries. Most of these studies automatically assume that causality runs from formal institutions to happiness. None...