In the transition from socialism to capitalism in Eastern Europe life satisfaction has followed the V-shaped pattern of GDP but failed to recover commensurately. In general, increased satisfaction with material living levels has occurred at the expense of decreased satisfaction with work,...

These new and revised essays analyze the revolution in the human condition that is sweeping the world. He asks if free markets are the key to human improvement, as today's policy-makers often assert. His responses employ a rich social science approach, blending economic theory, history,...