Rising Income Does Not Necessarily Determine a Rise in Happiness
Abstract
People always say that “money can buy happiness”, but whether that is true or not depends on how we look at it. This paper discusses to what extent that money can bring happiness to one and how such effects will change after earning a certain level of income. The rich views a rise of their income as insignificant contribution to their happiness because their spending power rises together with their income. The poor views a rise of income as a means to escape poverty hence feeling a rise in happiness level. Despite earning what they have, people still compare their income levels which in turn makes them dissatisfied. To achieve an equal level of happiness, incomes need to be at least doubled instead of just having a mediocre increase. One may argue that having more money means having larger ability to spend on time-saving products but it will only result in having to utilize the time-saving products even more and hence rendering the rise in happiness insignificant.
Introduction
Definitions of ‘Money’ and ‘Happiness’
Many people say that money can buy anything including happiness. If one possesses a huge sum of money then they will be able to acquire the necessities of life that brings great satisfaction and significantly increases the happiness in people. Happiness comes from within and is an intangible asset. Happiness is a common term with a vast concept. One of the most conventional definitions refers to happiness as an attitude towards one 's own life, the degree to which a person judges the overall quality of his or her life as a whole in a favourable way (Bruni & Stanca, 2007 ). Others believe that true happiness is not obtained through material possession but divine paths. They deem that the aim of human way of life is not restricted to money as it is regarded as only a kind of survival in this world and doesn’t have any relationship with happiness.
Money versus happiness
What is crucial in a human being’s existence? Money will, in all
People always say that “money can buy happiness”, but whether that is true or not depends on how we look at it. This paper discusses to what extent that money can bring happiness to one and how such effects will change after earning a certain level of income. The rich views a rise of their income as insignificant contribution to their happiness because their spending power rises together with their income. The poor views a rise of income as a means to escape poverty hence feeling a rise in happiness level. Despite earning what they have, people still compare their income levels which in turn makes them dissatisfied. To achieve an equal level of happiness, incomes need to be at least doubled instead of just having a mediocre increase. One may argue that having more money means having larger ability to spend on time-saving products but it will only result in having to utilize the time-saving products even more and hence rendering the rise in happiness insignificant.
Introduction
Definitions of ‘Money’ and ‘Happiness’
Many people say that money can buy anything including happiness. If one possesses a huge sum of money then they will be able to acquire the necessities of life that brings great satisfaction and significantly increases the happiness in people. Happiness comes from within and is an intangible asset. Happiness is a common term with a vast concept. One of the most conventional definitions refers to happiness as an attitude towards one 's own life, the degree to which a person judges the overall quality of his or her life as a whole in a favourable way (Bruni & Stanca, 2007 ). Others believe that true happiness is not obtained through material possession but divine paths. They deem that the aim of human way of life is not restricted to money as it is regarded as only a kind of survival in this world and doesn’t have any relationship with happiness.
Money versus happiness
What is crucial in a human being’s existence? Money will, in all
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