More than 34 years ago a economic study published argued that making more money didn’t lead to more happiness but instead led to upgraded wants. In other words, if when you made $45K a year you yearned for a Toyota, now that you make $75K that Toyota is not enough for you and instead now you want a Lexus. Earning more money only reset the bar on the things you wanted.
That was 34 years ago. A new study has been published and the writers are basically saying that indeed more money seems to lead to more happiness. People around the world have been polled and it seems that people who live in wealthier countries are more likely to say that they are satisfied with life. The study particularly finds that in the United States, households that earned more than 250K a year are more likely to say that are “very happy” (90% likelier). Whereas, from households that only earned around 30K, only 42% were likely to give the same answer.
I surely can see how people living in wealthier countries claim to be happier. People in poorer countries are concerned with having their basic needs met. In general their government doesn’t have enough money to even provide the basic services that we so take for granted around us: proper health care, safe transportation, reliable basic services. Trust me, if you lived knowing that these services are not a given everyday you wouldn’t be happy. The article is even quick to point out that even the households making 30K in this country wouldn’t necessarily be happier in poorer countries.