StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Does Money Buy Happiness - Research Paper Example

Cite this document
Summary
This research paper "Does Money Buy Happiness" discusses the increase in wealth or money that significantly increases the happiness indicators, on the other hand, it can also be argued evidently that happiness doesn’t necessarily increase at the rate the wealth increases…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER96.3% of users find it useful
Does Money Buy Happiness
Read Text Preview

Extract of sample "Does Money Buy Happiness"

s It is often argued that an increase in wealth or money significantly increases the happiness indicators. However, philosophers in the field also tend to argue that while on the other hand, it can also be argued evidently that happiness doesn’t necessarily increase at the rate the wealth increases. In other words, there is a presumption in the research studies indicating the pattern that money is a significant indicator which tends to enhance happiness as well, yet other factors can`t be ignored. In this context, social norms as well as other biological and psychological factors may contribute towards determining the happiness level of an individual. Also, it has been observed that with an increase in the wealth of a state, the individual happiness hasn’t increased to the same extent. Thus, it may be concluded that happiness increases with the increase in wealth but not at the same rate. To further analyze the argument, the works of Kesebir, Easterlin and Lane will be studied so that logical conclusion can be deduced. Kesebir (6) explores the rationale and logic behind happiness; that is how to find true happiness and what truly comprises of the notion of happiness. He is of the view that the idea of happiness has evolved over the years where it was equated with luck during the Homeric era, transformed to pleasure during the enlightenment era and can be equated with an act as little as owning a warm puppy in the contemporary era. However, the idea of happiness in its essence may not be as simple as that. In this context, over time contrasting views have been presented to explain what may constitute a happy life. Democritus argued that happiness is more of one`s state of mind, while Socrates and Plato disagree with this presumption and rather ought to give an objective meanings to happiness, i.e. virtue and goodness of life. On the other hand, the hellinistic view disregards virtue as a yardstick of happiness. In the enlightenment era, when a more secular shape was regarded to the concept of happiness, ideas like maximum utility and pleasure principal began over-shadowing the explanation to what may be called a happy life. Though the philosophers in the field agree on the difficulty associated with the idea of understanding the true definition of happiness, they have come up with a few parameters which may help in explaining the concept. Kesebir (8) regards that these parameters include life satisfaction, satisfaction with significant domains of life, positive effect and lower levels of negative effect. However, in an effort to further quantify the idea, certain theories have been put forth with Ryff and Singer`s theory of psychological well being, and Ryan and Deci`s self determination theories being significant. These theories tend to signify them if a certain physiological as well as psychological needs of a human are met, they can lead a happier life. Furthermore, for a better understanding the philosophers have distinguished between the ideal and the actual kind of happiness, with the former being the perfect and unattainable form, and the latter being the form which can be attained by humans. In this context, a further debate is generated with context to pessimism and optimism, where philosophers have opposing views on whether or not the majority of people are happy. However, there is a consensus amongst philosophers that the people generally aim to achieve higher levels of happiness. The entire debate reflected above boils down to the argument that it is not money or attainment of higher levels of wealth which makes a person any happier, rather it is only in synthesis with other similar yet differing factors which lead towards a happier and a fuller life. In this view, Epicureans has rightly put forth the argument that on one hand where wealth is necessary for the humans to avoid pain and pursue pleasure, yet beyond a certain threshold it ceases to offer that level of happiness. Even the most conservative philosophers like Aristotle, who aim on focusing on an objective side of the concept of happiness are of the view that factors like loneliness and other social indicators are essential ingredients of adding flavors of happiness in people`s life. Similarly, religious values and the personality of an individual also determine the factors which may contribute in carving a happy life for an individual, which may differ from one individual to another (Kesebir 9). Thus, money is associated with most of the factor essential in defining happiness in one`s life, yet money alone doesn`t have the capability to replace other factors as well. Therefore, the essence to happiness lies in cultural values, one`s personal disposition of pleasure and obviously to some extent, the wealth consummated by that individual. Easterlin (15) builds his case on the capitalistic mindset owned by the majority in America. In such a society, the idea of happiness is embedded in the capacity to avail maximum utility out of maximum number of good, the parameter for which is essential wealth. Thus, it can be presumed that in such a society, happiness if directly proportional to wealth. However, the data doesn’t in all cases signify the argument posed in this context. The data does confirm the presumption that on increasing the average income of a state, there may be a positive effect on the individual happiness of the individual. However, it doesn’t apparently affect the average happiness of the state. This implies directly that not all individuals rely on wealth and monetary indicators for acquiring higher levels of happiness, though some of them or even the majority of them may do. At the same time, the study conducted by Inkeles concludes that monetary factors like financial status and the job or education of an individual may or may not directly affect the happiness of an individual, however, a reversal pattern is absolutely unattainable in his model (Easterlin 13). In other words, in no way can it be implies that there isn`t any plausibility in the assumption that wealth related factors are inversely related to happiness. Thus, it is apparent that wealth has a positive effect on happiness of an individual but that is not always the case. Data clearly suggests that other factors also very effectively contribute in happiness. These factors are in essence directly related with social norms, as the social norms are deeply embedded in the psyche of an individual and thus, directly dictate the parameters of happiness. In other words, one`s personal experiences with the human condition truly tend to determine the state of happiness. In such a case, wealth may not be the most important indicator, and other social factors like religion and culture may also be at play. However, the trend of positive relationship between wealth and happiness is more apparent in the developed states as compared to the non-developed states, since the experiences of human condition in wealthier societies are also more exposed to money related factors (Easterlin 13). This can be explained with the principal of ‘hedemonic treadmill’, where more wealth brings more happiness, while when more money is acquired by the society in general, the feeling of happiness begins to decay. Lane (19) has built his argument to support the concept of ‘hedonic treadmill’, which signifies that if the expectation and desires of the society in general are in sync and they are being enhanced, irrespective of the increase in income or wealth, clearly the happiness indicators would also be enhanced. In this context, he argues that it is the family, leisure and friendships which are the true indicators of happiness, and not the income status. Furthermore, the happiness of a society in general increases with the increase in income as the state starts performing better fiscally, however, there is no evidence that the individual happiness is increased. Moreover, an increase in income of an individual level may tend to increase the happiness of the person in the short run, while in the long run, the new income level would act as the yardstick against which further achievements would be measured and thus, even the new income level wouldn’t increase the happiness level any further. Similarly, biological and other psychological factors also come into play while assessing happiness (Lane 17). This implies that, for instance, if someone is born with blue eyes that would lead towards increasing happiness throughout the life. Other psychological factors may also be considered. Thus, increase in income doesn’t always ensure increase in happiness, where other factors are also accounted. Thus, conclusively, on one hand where the increase in wealth or money significantly increases the happiness indicators, on the other hand, it can also be argued evidently that the happiness doesn’t necessarily increase at the rate the wealth increases. In other words, money is a significant indicator which tends to enhance happiness as well, yet other factors can`t be ignored. In this context, social norms as well as other biological and psychological factors come into play to determine the happiness level if an individual. Also, it has been observed that with an increase in the wealth of a state, the individual happiness hasn’t increased to the same extent. Thus, it may be concluded that happiness increases with the increase in wealth but not at the same rate. Works Cited: Kesebir, Pelin and Ed Diener. ‘In pursuit of Happiness: Empirical Answers to Philosophical Questions.’ Perspectives on Psychological Science 3 (2008) 117-123. Print. Esterlin, Richard A. ‘Des Money Buy Happiness?’ Public Interest (1973) 3-10. Print. Lane, Robert E. ‘Does Money Buy Happiness?’ Public Interest (1993) 56-65. Print Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Money and happiness Research Paper Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1643716-money-and-happiness
(Money and Happiness Research Paper Example | Topics and Well Written Essays - 1500 Words)
https://studentshare.org/miscellaneous/1643716-money-and-happiness.
“Money and Happiness Research Paper Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/miscellaneous/1643716-money-and-happiness.
  • Cited: 0 times

CHECK THESE SAMPLES OF Does Money Buy Happiness

What About Gross National Happiness

This coursework " What About Gross National happiness" discusses Gross Domestic Product or GDP as it is called is the measure of the value of goods produced in an economy.... However, there have been voices raised regarding the assumption of a relationship between GDP and happiness, with several prominent personalities suggesting that the GDP is a contributing factor to happiness and not the only, nor the most important factor.... David Cameron, the British prime minister, stated near the end of 2010 that happiness cannot be measured by money and that it was time when humans gained some maturity and realized that money is not the most important thing in life and there are other factors such as family, culture, and relationships which influence the happiness of a person (Stratton, 2010)....
5 Pages (1250 words) Coursework

Economic and Social Impact of the Rio Carnival

The paper "Economic and Social Impact of the Rio Carnival" explores the Rio Carnival, a celebration that is held every year in the Brazilian capital of Rio de Janeiro.... This Carnival is part of a larger pattern of similar celebrations that occur throughout the Latin American world.... ... ... ... As Riggio (2004) suggests, 'carnival, which is celebrated as a profane event, can thus be likened to a farewell to the pleasures of the flesh....
8 Pages (2000 words) Essay

Is Hyper-Consumption Buying Unhappiness

A man can purchase a product through the use of credit even if he does not have sufficient money available.... The paper "Is Hyper-Consumption Buying Unhappiness" highlights that Erickson (1977) has shown the effects of over-consumerism on the environment through the wastage of different industries....
28 Pages (7000 words) Essay

Money and Happiness

An essay "Money and happiness" claims that money is an explanation why people will always work hard even after acquiring considerable wealth.... However, material goods influence the state of happiness of an individual.... Philosophically, happiness is viewed differently.... The Easterlin Paradox asserts that high income is often associated with increased happiness.... However, a progressive increase in income does not always lead to prolonged happiness (Easterlin, 1973)....
6 Pages (1500 words) Essay

Money Does Not Buy Happiness

The paper "Money Does Not buy happiness" states that money does not buy happiness, rather it provides short-term relief to financial stresses.... Money does not buy happiness, as there is no commercial value to life's pleasures.... Money provides distractions from the factors that contribute to unhappiness thus money cannot buy happiness.... The article by Easterlin (1973) focuses a lot on national income and the happiness of citizens....
6 Pages (1500 words) Essay

The Complexity of Defining Money and Happiness

The paper "The Complexity of Defining Money and happiness" highlights that the prudency lies in separating satiable pleasures from insatiable pleasure.... The crux of the matter is that material possession, per se, does not grant happiness; it is the pleasurable activities that finally count.... At the beginning of the 19th century, utilitarian philosophy came into existence that aimed at satisfying the highest number of wants of the people to derive happiness and pleasure....
5 Pages (1250 words) Essay

Do We Need $ 75,000 a Year to Be Happy

The question of the paper "Do We Need $ 75,000 a Year to Be Happy" is based on an individual's evaluation of life by considering the factors that are significant for personal happiness and well-being.... The research question is based on an individual's evaluation of life by considering the factors that are significant for personal happiness and well-being.... Respondents are to imagine their rank from a set of issues that lead to their happiness....
7 Pages (1750 words) Research Proposal

Structural Constraints of Leisure

The two authors examined the association between different components of expenditure and happiness.... The findings showed that leisure consumption was the only component positively related to happiness.... So, if leisure must be freely chosen, enjoyable, and arise from intrinsic motivation, does a breach of any of these three tenets undermine the leisure concept and thus act as a leisure constraint?...
6 Pages (1500 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us