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Money vs. happiness - The Hindu


Subjective well-being and income are intricately linked
The question whether the rich are more satisfied with their lives is often taken for granted, even though surveys, like the Gallup World Poll, show that the relationship between subjective well-being and income is often weak, except in low-income countries in Africa and South Asia. Researcher Daniel Kahneman and his collaborators, for example, report that the correlation between household income and reported life satisfaction or happiness with life typically ranges from 0.15 to 0.30. There are a few plausible reasons. First, growth in income mostly has a transitory effect on individuals’ reported life satisfaction, as they adapt to material goods. Second, relative income, rather than the level of income, affects well-being earning more or less than others looms larger than how much one earns. Third, though average life satisfaction in countries tends to rise with GDP per capita at low levels of income, there is little ....

Vanis Kulkarni , Veenas Kulkarni , Daniel Kahneman , India Human Development Survey , Arkansas State University , Raghav Gaiha Is Research Affiliate , University Of Pennsylvania , Population Studies Centre , Gallup World Poll , Researcher Daniel Kahneman , Research Affiliate , வணிச் குல்கர்னி , இந்தியா மனிதன் வளர்ச்சி கணக்கெடுப்பு , ஆர்கன்சாஸ் நிலை பல்கலைக்கழகம் , பல்கலைக்கழகம் ஆஃப் பென்சில்வேனியா , பாப்யுலேஶந் ஆய்வுகள் மையம் , பித்தப்பை உலகம் போல் , ஆராய்ச்சி புதல்வனாக ஏற்றுக்கொள் ,