IZA mourns the loss of Richard A. Easterlin, a visionary economist whose pioneering research transformed how we think about economic growth, happiness, and human well-being. A valued member of the IZA community, Easterlin’s insights and contributions have left an indelible mark on the field.
In 2009, Richard Easterlin was honored with the IZA Prize in Labor Economics, recognizing his groundbreaking work on the relationship between demographic trends, economic outcomes, and subjective well-being. To celebrate his achievements, IZA published the IZA Prize Book, “Happiness, Growth, and the Life Cycle”, which remains a landmark in happiness research.
As an IZA Fellow for 25 years, Easterlin collaborated extensively with the institute, contributing more than two dozen IZA Discussion Papers, including his most recent work in 2023 at the remarkable age of 97. His seminal Easterlin Paradox, which demonstrated that rising income does not necessarily lead to increased happiness, challenged traditional economic assumptions and continues to shape global policy debates.
Andrew Oswald, Chair of the IZA Network Advisory Panel, described him as “a hugely innovative scholar and an inspiration to generations of economists, demographers, and behavioral scientists.” Easterlin’s ability to address complex societal questions with clarity and originality set a new standard for interdisciplinary research.
Beyond his academic achievements, Easterlin was known for his kindness, generosity, and dedication to mentoring young researchers. His work with IZA and the broader academic community reflected a life devoted to fostering inquiry and inspiring future generations.
The IZA community extends its deepest sympathies to Richard Easterlin’s family, friends, and colleagues. His legacy as a groundbreaking economist and compassionate mentor will endure, influencing the study of human well-being for years to come.
Rest in peace, Richard Easterlin. Your contributions will continue to guide and inspire us.