Summary Of Maybe Money Buy Happiness After All

In the article “Maybe Money Does Buy Happiness After All,” David Leonhardt discusses whether or not money is a factor that affects ones happiness. Leonhardt is an American journalist and a columnist. Leonhardt graduated from Horace Mann School in 1990. He later on continued his studies at Yale University and graduated with a bachelor in science and a degree in applied mathematics. While his experience in Yale, Leonhardt worked as an editor-in-chief in the Yale Daily News. He won many awards including the Peter Lisagor Award for Exemplary Journalism from the Chicago Headline Club for a story he wrote about the problems in McDonalds.
Leonhardt has been focusing on the subject of politics and economics since 2014, which makes him an expert in
He starts off by explaining how an increase in the level of economic growth does not necessarily lead to more happiness. According to the Easterlin paradox, from the late 1950s to the early 70s, people were richer but not any happier. Economist Richard Easterlin published a study where he argues that at times of economic growth, satisfaction levels don’t increase in correspondence to the increase in national wealth. The only time people truly become happier is when they become wealthy enough to satisfy basic human needs such as water, food, and shelter. Human wants are unlimited, for they always desire more than what they have. When one acquires the iPod sooner or later, then they begin to want more such as the iPod Touch. Two young economists proposed a rebuttal to the paradox where it has caught the eyes of top economists around the world and the question of whether or not money can buy happiness started being questioned once again, which has led to a lively response from Richard. In this rebuttal, an increase in income does achieve greater levels of happiness, however it is not guaranteed for everyone. According to Ms. Stevenson “The central message is that income does