G.D.P. and Happiness

GDP per Capita Vs. Happiness

According to a large database known as Our World in Data, happiness and income can be seen on a macro-economic level. The way this study was conducted was by comparing countries GDP per capita and self-reported happiness in 2014. The article states people in richer countries tend to report higher levels of life satisfaction. Moreover, even when controlling for other factors, “Richer countries tend to have higher average self-reported life satisfaction than poorer countries that are comparable in terms of demographics and other measurable characteristics”(Ortiz-Ospina and Roser 2018). Furthermore, the data shows that the same is true within in each individual countries. This ties directly into the evidence mentioned in the podcast. The article states that “richer people within a country tend to be happier than poorer people in the same country”(Ortiz-Ospina and Roser 2018). As stated before, this goes to further our point that money brings security, and security brings happiness.

The main thing that can be drawn from all this data is that it is true that income and happiness are tied together. In reference to the podcast, the data presented their also goes to support this study’s same conclusion. Moreover, it is also stated that money or personal income is obviously in direct relation with feelings of security. On a more micro level, when controlled for other factors the data supported the same conclusion as previously stated. This further proves our point that the role money plays in determining happiness is much greater than some individuals would like to admit.

All in all, money and happiness is a relationship that seems to hold true across cultures, borders, and oceans. Now,whether this relationship is seen as a good thing or bad thing, is up to the court of public opinion.

A graph showing the relationship between GDP and happiness around the world. It specifically talks about the USA, Germany, UK, France, Mexico and Sri Lanka.  The countries were selected based on their ability to show the role money plays in happiness. even when comparing countries of similar make-up.
A graph showing the relationship between GDP and happiness around the world.

References

Esteban Ortiz-Ospina and Max Roser (2018) – “Happiness and Life Satisfaction”. Published online at OurWorldInData.org. Retrieved from: ‘https://ourworldindata.org/happiness-and-life-satisfaction’ [Online Resource]

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