Abstract:
Many recent theoretical and empirical findings both in Economics and in Psychology show that, in
addition to the effects on policy outcomes, political participation may affect individual utility and
increase happiness and well-being. In this paper we devise a theoretical model where the individual
utility grows through the civic engagement, which may be enjoyed only with a sufficient level
of investment in civic capital accumulated through education. We show that investing in education
may have important consequences for subjective well-being by enhancing civic capacities which
are relevant to improve individual’s civic engagement and social outcomes, even without any
monetary effects. More specifically, we identify a form of non pecuniary benefits of education
represented by the possibility of taking an active and successful part in social and civic life which
significantly contribute to life satisfaction.
