Work conditions and financial difficulties in post-crisis Europe: Utility versus quality of working life

Abstract

This article critically examines the relation between work and utility and challenges the mainstream economic view of well-being as a hedonic state for which work is a less pleasurable trade-off. It proposes a conception of work as a potential source of eudaimonic well-being, providing meaning and contributing to human flourishing and self-realisation. Based on micro-level data, the article shows the relevance of distinguishing between hedonic and eudaimonic well-being by way of comparing the effects of increased financial difficulties and deteriorated work conditions on these two types of well-being in five European Union countries – Germany, Poland, Portugal, Sweden and the UK – in the post global financial crisis years between 2009 and 2014. The article concludes by underlining the political importance of addressing aspects pertaining to the quality of working life and of creating jobs that serve to improve the eudaimonic well-being of citizens. JEL Codes: I31, J28, J81