Study proves excessive wealth does not buy happiness

A study has revealed that while happiness increases with wealth in developing countries, excessive wealth in developed countries only leads to stress and anxiety.

Study proves excessive wealth does not buy happiness

World Bulletin / News Desk

Research into the correlation between wealth and happiness has revealed an interesting fact.

When comparing GDP to happiness, studies found that happiness and income increase up to a certain point before overwhelming aspirations inspired by wealth overtake realistic accomplishments, causing happiness to vanish.

The University of Warwick in London identified the so called “sweet spot” for income to be around £22,100 ($36,000). Beyond this, people begin to raise their expectations for a better standard of life, and when this is not achievable, they become overwhelmed with disappointment.

Dr Eugenio Proto, one of the report’s co-authors, told The Independent, “Any economy which gives its citizens lots of aspiration cannot truly be a bad economy, but this aspiration gap – the difference between actual income and our desire for things like nicer homes and consumers goods – eats away at levels of life satisfaction.”

Dr Proto also mentioned that wealth equality also played a factor in happiness, as country’s that have a lack of wealth equality lead people into unrealistic competition with one another, whereas countries that possess this equality tend to be happier, naming Denmark, Sweden and Finland as examples.

Last Mod: 28 Kasım 2013, 11:59
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