The British philosopher David Hume said: “ The great goal of all human endeavor is to achieve happiness.” Happiness is an ultimate goal of life and virtually everybody wants to be happy. Happiness is a psychological state of mind that the feelings of pleasure. Happiness is, after all, a state of mind. Happiness can be achieved by following measures including: psychological well-being, education system, living standards, government governance and politics, social position, and ecological environment wellness (Mankiw & Taylor, 2011, p. 8). Economic wealth is the net worth of firms, households, or nations, which are the value of all assets owned net of all liabilities owed at a period (Anderton, 2008, p. 203). It can be clearly seen that economic wealth and happiness are both important. This essay will examine whether economic wealth affects happiness. This paper will conclude that rises in economic wealth do not correlate with happiness. Many factors influence happiness, and the method of enhancing happiness. The essay will begin by discussing the relationship between economic wealth and life standards.
According to Mankiw & Taylor (2011), the quality of life in countries with high economic wealth could improve. Economic wealth can be measured by materials, goods, services, and GDP (gross domestic product), which is the market value of all final goods and services produced within a country Economist (2010). As Anderton (2008, p. 203) observes, the high rate of disposable money will probably lead to better health-care safeguards, advanced educational systems, and the material necessities of life, enhancing the standard of living. A country with increased economic wealth probably has a stabilized living environment. Rising economic...
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A well-known expression is that money can’t buy happiness, yet people fantasize of winning the lottery, living in their dream house, and possessing enough tangible objects to feel satisfied with their lives. Most are under the preconceived notion that the absence of wealth and power translates to hardship and despair. This, however, is not the case, because a self-effacing lifestyle is not an indication of a lower quality of life, and often is better than one of great fortune. People yearn to have the financial independence and capabilities of those in higher ranking positions, and are willing to abandon their morals and own personal well-being if it means being successful. It seems that by reaching a level of wealth in which money is no longer
The Economics of Happiness: Building Genuine Wealth is a book written by Mark Anielski, an ecological economist from Edmonton, Alberta, Canada. He is a professor and CEO of family owned corporation, Anielski Management Inc. (AMI). He specializes in well-being measurement and was recognized by Adbusters as a “rising star” amongst international progressive economists. He helps communities, business and governments in measuring and managing their genuine wealth. His book, The Economics of Happiness: Building Genuine Wealth, won 2 awards in 2008 which are a gold medal in Consciousness Business Leadership at the Los Angeles Nautilus Book and a bronze medal at the Axiom Book Awards in New York, with the category of Economics (International Institute of Sustainable Development, 2014). Mark is also a professor at the University of Alberta, School of Business and teaches a course in Corporate Social Responsibility and Social Entrepreneurship (International Institute of Sustainable Development, 2014). He is also a founding faculty member of
Wilkinson and Pickett draw on a broad range of elements such as, health and wealth, income, mental well being and homicide in order to make their argument. They measure health and happiness in relation to people’s income and they find that in every society rich people on average tend to be happier and healthier than poorer people in the same societies
Along with life and liberty, the pursuit of happiness is among the most fundamental ideals in American society. The men who founded the United States of America in the late 18th century listed these three values as “unalienable rights” for the citizens of the new nation they created. In a recent study looking at the pursuit of happiness, Lyubomirsky, Sheldon, and Schkade stated, “If it is meaningful and important to pursue happiness, then it is crucial to find out how this can be accomplished” (2005, p. 126). In later work, Sheldon and Lyubomirsky (2006) observed that little research has been done to uncover the exact methods in which happiness increases. The views offered in these prior projects are vital to the current investigation because there is evidence that even though happiness is pursued, happiness is not accomplished by the majori...
One reason described to be a cause of happiness is income. Don Peck and Ross Douthat indicate how, “National income appears to be one of the best single predictors of overall well-being, explaining perhaps 40 percent of the difference in contentment among nations” (352). With this statement, comes the explanation of how income can influence happiness in adults who strive to earn a living. Research illustrates how, “For individual countries, with few exceptions, self-reported happiness has increased as incomes have risen” (Douthat 352). While these two statements provide sufficient evidence for the reason of income bringing happiness, income itself is not relevant.
By using Gross Domestic Product as the main indicator of well-being, many important factors are neglected. As defined in the New Merriam-Webster Dictionary, well-being is the state of being happy, healthy, or prosperous (1989, p.831). Economically, perhaps the only relevant state under the definition is prosperity, but in reality happiness and health have a great impact on well-being, significant enough to be recognized even when focusing mainly on wealth in numbers. If society hopes to have a more accurate and complete indication of well-being, globally or nationally, a new system of measurement must be developed, leaving GDP to its original function of totaling the dollar value of all domestically-produced goods and services sold over a period of time.
Prager, D. (1997). Happiness is a serious problem: A human nature repair manual. NY: HarperCollins Publishers
According to Freud’s conclusion based on decades of experimentation and theoretical work in the field of psychotherapy, humans cannot be happy because a satisfaction of needs creates only a momentary phase of happiness which expires after some time. Therefore, the focus of life should not be obtaining happiness, and people should focus on avoiding suffering instead (Bullock, n.d.). However, several paradigms about well-being exist, and individual cognitive patterns and paradigms define the emotional responses to social influences. From an objective viewpoint, well-being is a state of consciousness that arises from a combination of internal and external factors, and money is an unstable external influence in defining subjective well-being.
Stearns, Peter N. “The History of Happiness. (Cover Story).” Harvard Business Review 90.1/2 (2012): 104-109. Business Source Complete. Web. 6 June 2015.
It is easier for wealthy people to pay for their needs, such as health care and dental care. If any abrupt situation approaches dealing with their health, a wealthy person will be financially stable to pay and fix it. According to an article, "Happiness Around The World: Is There More To It Than Money?" by Bozionelos, Nikos, and Ioannis Nikolaou, “One would expect that money is more important when it helps meet basic needs, and this should be especially true in poorer nations. However, as already seen, the relationship between income and general life satisfaction was mainly explained by whether material aspirations (such as buying luxury goods) could be fulfilled.” In other words, one’s concept of happiness can vary from nation to nation. For example, people living in poor nations and having a low income tend to be satisfied by having just enough to meet their necessities. While, on the other hand, people with higher income tend to be satisfied if they have enough to buy luxury goods. Being wealthy does not lead one to happiness; it can help some people to obtain happiness, but it can also lead others to have unwanted experiences. Having a minimum amount of money is necessary to be happy. Having the minimum amount of money to pay bills, have medical assistance, buy groceries, and clothing is considered as the basics needed for one to be happy. Money is a tool that can help a person obtain objects that can help him or her to have a comfortable life. However, money should not become the reason why a person is happy. Happiness comes within a person as a human being and money will never replace a friend, nor a loved
An individual 's happiness is vital to their overall wellbeing and is affected by numerous factors, all to varying extents.
Happiness is a feeling that everyone aims to accomplish, yet some people seem to only catch a sight of it. Gratifying atonement, a state of well-being, and serenity are the more eminent elements of happiness. David G. Myers and Ed Diener propose the article “Who Is Happy?” which present aspects of happiness, a theory that recognizes adaptation, cultural world view, and personal goals. I believe through word of mouth and through those whom we look up to, we are told many myths about happiness, especially the biggest myth that money can buy happiness. In Daniel Gilbert’s “Reporting Live from Tomorrow”, he argues that the definition of happiness is not defined by wealth and that we rely on super-replicators and surrogates to make decisions that we feel will enhance our happiness. Our economic history has proven the idea of declining marginal utility. If we pursue life and liberty without happiness, our lives, quality, and value will slowly vanish, but the absence of wealth has nothing to do with one’s happiness.
Although it has been said that money is the root of all evil, many people actually believe that they would be happier if they were wealthier. Could this be correct? This essay will support the thesis that not only does the pursuit of wealth not lead to happiness; it may actually make us unhappy.
Gilbert, Dan." The surprising science of happiness." Ted Talks. Ted. Ted Talks, Monterey. 1 Feb. 2004. Lecture.