HEALTH, WEALTH AND HAPPINESS - WHY PURSUE A HIGHER-EDUCATION

We explore the effect of schooling on health, wealth and happiness for a cohort of Dutch individuals born around 1940. We also use observati ons on childhood IC! and family background. The most fortunate group i s the group with a non-vocational intermediate level education: they s core highest on health, wealth and happiness. We find that IQ affects health, but nor wealth or happiness. Family background level increases wealth, but neither health nor happiness. With a father who worked in dependently, health, wealth and happiness are higher. Women are a mira cle: compared with men, they are less wealthy, equally healthy but the y are definitely happier. [JEL I10, J24, D31, D63] (C) 1998 Elsevier S cience Ltd. All rights reserved.