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Easterlin and other researchers have examined data from the United States and Japan to analyze a seemingly paradoxical relationship between life satisfaction and economic growth. In Japan, data from the "Life in Nation" surveys, initiated in 1958, initially suggests that mean life satisfaction remained constant despite significant economic growth.
Hedonic adaptation is an event or mechanism that reduces the affective impact of substantial emotional events. Generally, hedonic adaptation involves a happiness "set point", whereby humans generally maintain a constant level of happiness throughout their lives, despite events that occur in their environment.
Plato (c. 428 – c. 347 BCE) teaches in the Republic that a life committed to knowledge and virtue will result in happiness and self-realization.To achieve happiness, one should become immune to changes in the material world and strive to gain the knowledge of the eternal, immutable forms that reside in the realm of ideas.
“Your brain is telling you to do the one thing that won’t bring happiness, which is to go buy stuff.” That’s because, he says, humans are hardwired to “rise in the hierarchy.”
Find Out: 9 Things You Must Do To Grow Your Wealth in 2024. Whether you already make over $200,000 a year or bring in a low income, a small raise can boost the mental state of the rich and poor ...
Ultra-rich Americans have higher 'life satisfaction', claims Wharton prof — debunking a popular study that says happiness peaks at $75K/year — here's how to reach a higher wealth echelon
However, this does not prove that money cannot buy happiness, because people may not spend their income in the optimal way to increase happiness. Steven and Wolfer (2008) claimed that "cross-section data suggests that the answer to the question whether higher income leads to greater happiness is 'yes'; on the other, the time-series data say 'no'."
It has been argued that there may also be meaningful lives that are unimportant. In this regard, some people may find meaning in life through the mere appreciation of valuable things, for example, by worshipping God. Such a life lacks importance if it does not bring about a significant value difference in the world. [20]