Wealth and happiness summary

Wealth and happiness summary - inability to tell...

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Wall Street Journal On a scale of 1-7 (1 is not satisfied, 7 is completely satisfied) Americans average 5.8 satisfaction with their lives. More than 150 studies show that “economic indicators have glaring shortcomings” o “Although economic output has risen steeply over the past decades, there has been no rise in life satisfaction… and there has been a substantial increase in depression and distrust” happiness comes from social relationships, enjoyable work, fulfillment, a sense of life that has meaning, and joining civic or other groups. “economic success falls short as a measure of well-being, in part because of materialism can negatively influence well-being, and also because it is possible to be happy without living a life of luxury”
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Unformatted text preview: inability to tell correlation from causation o people who say theyre happy typically go on to earn higher incomes than people who said theyre not happy o a sense of well-being boosts productivity, inititative and other traits that lead to a higher income o content people are also more likely to get married and stay that way, be healthy, etc wealthy nations tend to be democracies that respect human rights and have a fair legal system, good health care, effective/honest gov this contributes to well-being once a nation reaches a certain level of prosperity, further economic growth is unlikely to buy additional happiness o since WWII, GDP per capita in the US has tripled, but life satisfaction has barely budged...
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This note was uploaded on 03/15/2012 for the course COM 339 taught by Professor Shulman during the Fall '11 term at Miami University.

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