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

To what extent does wealth equate with happiness - Essay Example

Cite this document
Summary
Extent to which Wealth Equates with Happiness Introduction In this modern society, people have always associated happiness with the amount of money earned. Many people think that those who earn more money are generally happier. According to some economists, this is true but others have refuted the claim suggesting that there are other factors to consider (Roberts, 2011)…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER99% of users find it useful
To what extent does wealth equate with happiness
Read Text Preview

Extract of sample "To what extent does wealth equate with happiness"

Download file to see previous pages

This was considered after recognizing that personal happiness has not increased in the Western countries regardless of the growth experienced in economic wealth (Penec, 2008:18). Brandon Keim noticed the same trend in China, where the Chinese have not achieved any life satisfaction from the two decades of speedy economic growth. The wealthy people are a bit happier than before, the middle class have not had any changes while life satisfaction for the poor has decreased sharply. This indicates flaws in the conventional system used to examine life satisfaction and happiness.

Keim refers to a research conducted by Easterlin, an economist, who discovered that money only created happiness to a certain degree after which, people returned to the usual. Easterlin concluded that money could not buy happiness because after some crucial needs are met, life satisfaction begins to decline with increasing income. Of course, many theorists disapproved this theory (Keim, 2012). Domestic product increased by four times but surveys conducted in China showed a decrease in personal satisfaction.

Could Easternlin’s theory or paradox be right after all? The wealth in China seems to be concentrated among the few wealthiest people, therefore, the surveys could have indicated just how much the Chinese people resent inequality. However, Penec’s article shows that money increases individual happiness but when the entire society becomes wealthy, people do not feel prosperous. People feel happy after they achieve a certain financial status but they get used to it and take it for granted. Other factors also play a role in an individual’s happiness, for example, type of job, stress levels, and environment factors (Penec, 2008:18).

An article on The Economist, a weekly newspaper, analysed the situation in China indicating gain that the Chinese masses are not happy with their situation. In ancient China, Chinese leaders ruled by ensuring that their subjects were happy. This is not the case with the country experiencing over five hundred protests every day. This shows that the people are not happy despite the immense economic success that China enjoys today. The main problem is the gap created between the wealthy and the poor, which has resulted to inequality among Chinese citizens where the poor are in a struggling situation while the wealthy decide on the country’s economy.

The article tries to show that the people’s happiness does not depend entirely on a rapid economic growth but relies on proper distribution of a country’s expanding wealth (The Economist, 2012). Tim Weber, an editor, claims that there is a research that shows that money makes people happier. The only problem is that economists are finding it hard to describe happiness, therefore, making it hard to measure it. Weber notes that a high gross domestic product translates to a lower chid morality, better education, and better quality of life.

These are some of the factors that economists measure when they explain happiness. Weber writes that though an individual can earn more money than everyone else, some factors such as education, literacy, life’s longevity, and health, can only reach to a certain level, therefore, an economist’s happiness cannot exceed a certain level. Weber also indicates that happiness is subjective meaning that people have

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“To what extent does wealth equate with happiness Essay”, n.d.)
To what extent does wealth equate with happiness Essay. Retrieved from https://studentshare.org/english/1492098-to-what-extent-does-wealth-equate-with-happiness
(To What Extent Does Wealth Equate With Happiness Essay)
To What Extent Does Wealth Equate With Happiness Essay. https://studentshare.org/english/1492098-to-what-extent-does-wealth-equate-with-happiness.
“To What Extent Does Wealth Equate With Happiness Essay”, n.d. https://studentshare.org/english/1492098-to-what-extent-does-wealth-equate-with-happiness.
  • Cited: 0 times

CHECK THESE SAMPLES OF To what extent does wealth equate with happiness

Happiness and Mental Well-Being of Society

happiness is a word which describes the feeling of joy of an individual.... hellip; The word has lost its meaning over the centuries and people now have different views about happiness.... Some consider money as happiness while some consider power as happiness.... However happiness is a feeling which is governed by different factors and is being given a great significance in the recent years.... A society is crippled if happiness does not prevail in it....
9 Pages (2250 words) Essay

Aristotles Politics

But happiness should not be mistaken for the usual bodily pleasures.... In his Ethics Aristotle says that the happiness that a person has achieved cannot be calculated on a short-term basis, but can be ascertained at the end of his life.... When a person lives his life ensuring that the "activity of (his) soul (is) according to reason" (Ethics),5 then he attains happiness.... 6 The extent of happiness which a person attains is in proportion to the virtue and wisdom which he possesses, and which leads to virtuous and wise action....
6 Pages (1500 words) Essay

The Equation of Happiness as a Quantifiable Element

The tone of the memoir is at times funny and satirical, but the overall message is positive and meant to reinforce the idea that happiness is something that humanity can attain.... hellip; The question, however, is whether or not geography has anything to do with attaining happiness.... Weiner looks into this question by travelling to different countries, which have been quantified in terms of the happiness of the people there.... The narrator's journey can be seen in the situation of Utilitarianism because this is a philosophy centred on action, rather than the expectations of its people, which provides real happiness....
7 Pages (1750 words) Research Paper

Does Money Buy 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.... 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… 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....
6 Pages (1500 words) Research Paper

What Might the Happiness and Mental Well-Being of a Society Tell

The paper "What Might the happiness and Mental Well-Being of a Society Tell" discusses that happiness is directly linked to the well being of a society.... Nurturing plays an important role in maintaining the level of happiness in a society.... The word happiness has lost its meaning over the centuries and people now have different views about happiness.... Some consider money as happiness while some consider power as happiness....
9 Pages (2250 words) Coursework

How Can Happiness Impact a Positive Lifestyle

happiness has been a subject of philosophical discourses since time immemorial.... The writer of this paper analyzes how can happiness impact a positive lifestyle.... hellip; Man would do something because of happiness (Aristotle, 2002, as cited in Philosophy of happiness, n.... In this sense, happiness is the primary force that motivates a person to do a particular act (Philosophy of happiness, n....
12 Pages (3000 words) Research Paper

The Complexity of Defining Money and Happiness

Thus, subjective well-being is pretty close to what is being explored about the term happiness in human life.... The paper "The Complexity of Defining Money and happiness" highlights that the prudency lies in separating satiable pleasures from insatiable pleasure.... hellip; 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

Aristotle's Nichomachean Ethics

Secondly, the outcomes of any deeds are only evaluated subject to the happiness or unhappiness generated.... Finally, happiness for each and every person is the same (Rachels & Rachels, 2012, p.... ccording to classical theory, the happiness of all the parties involved in any right conduct is all that matters and not just the happiness of the party performing the action.... This means that actions have to balance between happiness and unhappiness for all....
5 Pages (1250 words) Assignment
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