World of Psychology

Wealth does not create individual happiness and it doesn’t build a strong country, either

A study in the recent issue of Psychological Science in the Public Interest addresses how economic status is no longer a sufficient gauge of a nation’s well-being. The authors argue that the psychological well-being of its citizens is the greatest measure of a nation– not the well-being of its economy. “While wealth has trebled over the past 50 years%u2026well-being has been flat, mental illness has increased at an even more rapid rate, and data, not just nostalgic reminiscences, indicate that the social fabric is more frayed than it was in leaner times,” the authors state. Prosperity is neither the answer nor the cause of satisfaction. The study calls for an ongoing systematic set of national indicators of well-being to report on a society and aid in its policy-making.


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    Last reviewed: By John M. Grohol, Psy.D. on 24 Sep 2004
    Published on PsychCentral.com. All rights reserved.

APA Reference
Grohol, J. (2004). Wealth does not create individual happiness and it doesn’t build a strong country, either. Psych Central. Retrieved on February 14, 2012, from http://psychcentral.com/blog/archives/2004/09/24/wealth-does-not-create-individual-happiness-and-it-doesnt-build-a-strong-country-either/

 

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