Journey Through the Years: How Age Shapes Spirituality and Fuels Life Satisfaction

The emergence of behavioural economics has twisted the neo-classical economic narrative based the rationality postulate. Behavioural economics has highlighted the importance of subjective components of attitude, attribute and behaviour in making a right choice while making a decision. Spirituality and religiosity are those behavioural components which have strong influence on subjective wellbeing, happiness and in achieving a meaningful life. This study has emphasised on how spirituality as a subjective factor has influenced people of different generations like the baby boomer, the generation- X and the generation-Z and so on. With the help of primary data collected in one of the backward regions of Odisha, various statistical techniques have inferred interesting results. Like the older generation people, the new generation youth are becoming more spiritual and their happiness or subjective wellbeing is being influenced to a larger extend by their spiritual leaning. Socio-economic factors like education, marital status, income and so on have significant relationship with the economics of spiritualism.