Nobody downloaded yet

To what extent does wealth equate with happiness - Essay Example

Comments (0) Cite this document
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 paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.8% of users find it useful
To what extent does wealth equate with happiness
Read TextPreview

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 pagesRead More
Cite this document
  • APA
  • MLA
(“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
Comments (0)
Click to create a comment or rate a document
Does happiness change after life events
He points out that until recently, studies of happiness focused either on happiness as a subjective state or happiness as something that can be measured objectively through measure of what is really important in life. However, Griffin argues, none of these approaches seems to be right.
6 Pages(1500 words)Essay
Are wealth taxes a desirable part of a tax system To what extent does Inheritance Tax in the UK fulfil the role of a wealth tax
Wealth generally refers to the net-worth of a taxpayer. All his assets are included and the liabilities are deducted. Calculation of fair value of assets is easy in some cases and very difficult in others. A tax on this purchasing power of an individual is called wealth tax.
3 Pages(750 words)Essay
Preliminary Research Design
Dixon, Freeman, and Toman (2010) suggest that when people are looking at their customers to try and please them, that customers just want their problems solved. The state that this is the fastest way to bring customers back and by solving their problems, the customer will stay loyal.
4 Pages(1000 words)Assignment
Wealth and Happiness
Economists have long been studying the relation between money and happiness. A number of theories have been put across in literature to explain this relation. The most widely discussed theory is of relative income which states that an individual's value for money is relative to income of its peers.
2 Pages(500 words)Essay
Does the corporate governance maximize shareholders wealth
I. Introduction and objective of the report The annual report is a report the company’s performance in the preceding year. It contains the financial statements and economic activities that the company undertook in the preceding year. Annual report is intended for its various stakeholders who have a stake and interest in the performance of the company particularly the shareholder’s who have invested in the company.
8 Pages(2000 words)Essay
Econimic Wealth and Happiness
Furthermore, there is also economic security by prosperous nations such as US and China which translates to quality services in such as countries. Additionally, creation of jobs as a measure of eradicating poverty is a sign of economic well being that brings happiness and healthy while conducting business (Dean 2010, p.
5 Pages(1250 words)Essay
Does capital punishment equate to cruel and unusual punishment
" needs to be answered. While the abolitionists oppose capital punishments on moral and human rights grounds, the proponents of capital punishments hold that there should be retributive justice in the nation. There are also researchers who hold that capital punishments act as the strongest deterrents that stand as warning boards to dreaded criminals.
2 Pages(500 words)Essay
Economic and Health System Comparison between U.S.A and Canada
America started the idea of tax collection way back in 1960s and followed by congress mandate that collected taxes be recorded annually as components of the federal budget. The budget act applies the term tax expenditure to mean tax provisions that exist in
4 Pages(1000 words)Essay
In arriving at his favored reading of the second principle of justice (that of democratic equality), Rawls rejects Pareto efficiency and careers open to talents as being sufficient to establish a just society. Why does he reject these two readings
The first principle enables recognition of the matter of priorities which is the “acknowledgment of the absolute weight of liberty with respect to
5 Pages(1250 words)Essay
Happiness 2
Western minds often equate the term with measurement of wealth and monetary value, and Marx theorized that from the leisure time associated with wealth came a degree of alienation
10 Pages(2500 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.
Let us find you another Essay on topic To what extent does wealth equate with happiness for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us