Clipping of news on Brazilian Culture, Law and Citizenship
03/05/2013
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According to economists, not found a point of satisfaction that more money does not turn into greater well-being
NEW YORK - Despite the famous saying that says money can not buy happiness, in practice it is not quite what is observed, according to a new study released by economists Betsey Stevenson and Justin Wolfers of the University of Michigan. The relationship between the income level and self-reported happiness of people in many countries of the world, the study authors found that the more money people have, the happier they tend to be.
Economists say there is no evidence that there is a "point of satisfaction," a theoretical level of contentment that having more money does not become more happiness. Two tables show the findings of the report. The first confronts the annual income of households in different countries, with the level of happiness of the people, showing a correlation between higher income and higher reported levels of happiness.
- There is no evidence that the levels stabilize from some point of satisfaction in any nation - the authors report, according to the magazine "The Week".
The second table compares the countries themselves, revealing that the richest nations report higher levels of happiness. The line rises as wealth increases, indicating that "the relationship well-being-income extends to them as well."
The tables use a logarithmic scale, which shows that a given percentage change in income produces a change in fixed happiness, regardless of the original level of income. For example, a doubling of wealth produces the same percentage change in the initial income is $ 1,000 or $ 1 million.
That means an increase of $ 5000 in GDP per capita will generate much more happiness for a poor country than for a rich man. In the same vein, an increase of $ 5000 in household income will generate more happiness for a poor family than for a rich.
The research leads us to believe in the importance of economic growth and the distribution of this growth. Reduce by half the income of millionaires would double the number of poor households.
The findings go against the widely publicized theory that the economist Richard Easterlin launched 40 years ago, which argued that people did not become happier by multiplying their wealth. In response to the study, Easterlin warned that research looked, in fact, of snapshots of income levels, not like happiness rose to individuals as personal income grew.
- If you compare people at a given point in time, those with higher income levels are typically happier - said economist to "MarketWatch". - But you can not generalize about that particular point in the relationship over time.
Other experts also questioned whether the findings show a real causation or mere correlation. Happiest people may be more likely to be promoted and receive higher. Or rich nations may have the stability and resources required to meet more broadly society, leading to widespread highest levels of happiness.
- I suspect that what is happening is that income is a marker for something else. It may be that what really brings happiness is to carry forward a full life - says Wolfers, one of the authors.
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Source: The Globe - Online
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This article was translated by an automatic translation system, and was therefore not reviewed by people.