Subjective Well-Being in EU Countries in the Context of Economic Development and Social Policy

The article examines subjective well-being in EU countries in the context of economic development and social policy. The analysis carried out in the article is based upon the assumption from previous studies that the economic dimension is one of the most important factors influencing subjective well-being. The analysis revealed that subjective well-being in EU countries is more dependent on the level of economic development of the country measured by average income than on the orientation of national social policy measured by total social benefits as a percentage of GDP. Based on homeostatic theory of subjective well-being, income should be regarded as an external factor enabling members of society faced with social risks to maintain subjective well-being within the normative limits. Therefore, in the EU countries where the average income is higher, people have a better ability to sustain a higher level of subjective well-being than in the countries where the average income is lower. The findings of the article partially correspond to Marx's labour theory of value asserting that the owner of labour needs to get the equivalent corresponding to his or her value of labour including the amount required for satisfaction of needs in case the owner is faced with social risks. Thus, it is not that important in terms of subjective well-being whether, in case of social risks, the value of labour is ensured by the State or a market mechanism

Proceedings of The HKIE Geotechnical Division 42nd Annual Seminar: A New Era of Metropolis and Infrastructure Developments in Hong Kong, Challenges and Opportunities to Geotechnical Engineering

This seminar proceedings contain articles on the various research ideas of the academic community and practitioners presented at The HKIE Geotechnical Division 42nd Annual Seminar (GDAS2022). GDAS2022 was organized by the Geotechnical Division, The Hong Kong Institution of Engineers on 13th May 2022. Seminar Title: The HKIE Geotechnical Division 42nd Annual SeminarSeminar Acronym: GDAS2022Seminar Date: 13 May 2022Seminar Location:  Hong KongSeminar Organizers: Geotechnical Division, The Hong Kong Institution of Engineers Link to the GDAS2021 Proceedings: Proceedings of The HKIE Geotechnical Division 41st Annual Semina