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Money and happiness in the attachment - Essay Example

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Several theories and concepts have been developed each valiantly trying to argue in support of or even against the case of money and happiness. This paper seeks to show…
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Money and happiness in the attachment

Download file to see previous pages... The paradox was mainly used to support the argument that a general increase in economical growth by a country, would not necessarily result in increased satisfaction levels by its citizenry (Leonhardt 2008).
The argument supported by this paradox, was further supported by research that happened to prove that during the resultant aftermath that followed soon after World War II ended, the economy of Japan underwent a rather significant boom with the general economy’s output growing by an average of about sevenfold between the years ranging between 1950 an 1970. This staggering economical growth caused Japan to eventually become one of the world’s richest nations (Leonhardt 2008).
Despite the massive economic growth witnessed in the country, polls conducted in Japan showed that the country’s citizenry appeared to become increasingly dissatisfied with their own lives. According to the results of one poll, the overall percentage of persons who happened to provide the most positive of the given possible answers pertaining to the level of satisfaction they were experiencing in their lives actually fell from the averages obtained during the late 1950s through to the early 1970s. It was evidently clear that although the people were richer, they were deemed to apparently not be happier. (Lee & Dwight 2006).
The results of this Japanese anomaly are inherently somewhat flawed and money can result in happiness. The truth of this statement was verified by efforts of research conducted by two economists from Brookings Institution in Washington, Mr. Wolfers and Ms. Stevenson who discovered that the original research questions had changed and the most positive answer option that was given by the pollsters was one suggesting that although the respondents weren’t completely happy they were satisfied with their life as it were at the moment.
Mr. Easterlin is quoted as writing that “it can generally ...Download file to see next pagesRead More
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