Aria1
@Aria1
6 Years
Comments: 129 · Posts: 260 · Topics: 10
The income-life satisfaction debate
35k per year? gdp =gross domestic product right
Posted by LadyNeptune
35k per year? gdp =gross domestic product right
I guess I put two questions in there without realizing it.
GDP as it relates to the measurement of overall well-being within a society.
Personal income of $ 30,000- $ 35,000 as it relates to individual life satisfaction.
Posted by LadyNeptune
35k per year? gdp =gross domestic product right
It's GPD per capita.
She butchered her question, or simply didn't understand the study.
"Conclusions
Our econometric analysis implies that long-term GDP growth is certainly desirable among poorer countries, but is it a desirable feature among developed countries as well? Recent evidence shows the negative effect of high aspiration can also be rationally predicted by individuals who, nevertheless, may still choose options that may not seem to maximise happiness, but which are compatible with high-income aspirations.
This implies that individuals may still prefer to live in richer countries, even if this would result in a decreased level of life satisfaction. In other words, the fact that individuals aspire to a higher income may not be considered – from an individual perspective – a negative feature of an economy even if this might result in a lower level of reported life satisfaction among the richest countries."
https://voxeu.org/article/gdp-and-life-satisfaction-new-evidence
Yes, a richer country means better life satisfaction overall, but it levels off at a certain point.
Yes, folks will voluntarily give up some life satisfaction to live in a richer, more developed nation.
Posted by Aria1Posted by LadyNeptune
35k per year? gdp =gross domestic product right
I guess I put two questions in there without realizing it.
GDP as it relates to the measurement of overall well-being within a society.
Personal income of $ 30,000- $ 35,000 as it relates to individual life satisfaction.click to expand
You can’t survive in my city making 30-35k per year. Unless you have someone else paying the bills.
Posted by _DazedPosted by LadyNeptune
35k per year? gdp =gross domestic product right
It's GPD per capita.
She butchered her question, or simply didn't understand the study.
"Conclusions
Our econometric analysis implies that long-term GDP growth is certainly desirable among poorer countries, but is it a desirable feature among developed countries as well? Recent evidence shows the negative effect of high aspiration can also be rationally predicted by individuals who, nevertheless, may still choose options that may not seem to maximise happiness, but which are compatible with high-income aspirations.
This implies that individuals may still prefer to live in richer countries, even if this would result in a decreased level of life satisfaction. In other words, the fact that individuals aspire to a higher income may not be considered – from an individual perspective – a negative feature of an economy even if this might result in a lower level of reported life satisfaction among the richest countries."
https://voxeu.org/article/gdp-and-life-satisfaction-new-evidence
Yes, a richer country means better life satisfaction overall, but it levels off at a certain point.
Yes, folks will voluntarily give up some life satisfaction to live in a richer, more developed nation.click to expand
Just stick to the question:
Do you think that economic growth guarantees rising happiness?
Posted by Aria1
I just finished reading a 2014 study that researched the relationship between GDP and life satisfaction.
It found that life satisfaction tends to decline in many countries once it hits the $ 30,000- $ 35,000 mark (commonly referred to as "the bliss point").
Do you think that economic growth guarantees rising happiness?
No.
Posted by Bklatt
Depends what you do with the money. Im willing to bet a 1000 dollar whore is not much better than a 100 dollar one if at all.
You gotta be creative with it. Ive seen some rich people live incredibly boring lives and its always a balance between playing it safe and hedonism. Very few can handle hardcore hedonism.
True.
I was thinking about the whole "income-life satisfaction" debate after having watched a documentary on mass consumerism and advertising. It was really interesting.
Posted by BklattPosted by Aria1Posted by Bklatt
Depends what you do with the money. Im willing to bet a 1000 dollar whore is not much better than a 100 dollar one if at all.
You gotta be creative with it. Ive seen some rich people live incredibly boring lives and its always a balance between playing it safe and hedonism. Very few can handle hardcore hedonism.
True.
I was thinking about the whole "income-life satisfaction" debate after having watched a documentary on mass consumerism and advertising. It was really interesting.
I realized it when I got this Sony CD player back in 2000(big deal at the time). I wanted it bad cause I had a CD I enjoyed listening to. To me it was a good tool. Ultimately I cared about the music experience, not so much the object.
A cousin of mine saw it brand new in the packaging and stared at it from every angle. I almost gave it to him at that point he seemed to want it more than I did. But that CD player lasted me like 5 years and many CDs. Years later my cousin is buying expensive clothing and electronics and Im still a cheapskate loving to listen to music. I look for experience in quality and longetivity. Money doesent always buy quality or longetivity especially nowadays.click to expand
Indeed.
I had a black shirt I wore for years that eventually had holes in so I just sewed them up but my friends would poke fun and tell me to buy new clothes. 😂
Posted by LadyNeptunePosted by Aria1Posted by LadyNeptune
35k per year? gdp =gross domestic product right
I guess I put two questions in there without realizing it.
GDP as it relates to the measurement of overall well-being within a society.
Personal income of $ 30,000- $ 35,000 as it relates to individual life satisfaction.
You can’t survive in my city making 30-35k per year. Unless you have someone else paying the bills.click to expand
I'm not sure which city you live in and I realize location is a factor, specifically, a particular country.
Surprisingly, the survey showed that life satisfaction significantly declined once it peaked at around $ 30,000 USD among the richest countries...
This was highlighted in a documentary called "Advertising at the Edge of the Apocalypse".
If anyone's interested here's the trailer:
NO. That bliss point is way too low. Most studies put it at 80K. Income over this point, does not provide any additional happiness.
But given my Taurus Stellium in the 9th House status, I'd be much happier taking my vacations in a 5 star hotel *shrug*
Idk, maybe it considers combined income or something. If that's so, I don't think 140k would even be enough money to put up with a husband.
But given my Taurus Stellium in the 9th House status, I'd be much happier taking my vacations in a 5 star hotel *shrug*
Idk, maybe it considers combined income or something. If that's so, I don't think 140k would even be enough money to put up with a husband.
Posted by Aria1Posted by _DazedPosted by LadyNeptune
35k per year? gdp =gross domestic product right
It's GPD per capita.
She butchered her question, or simply didn't understand the study.
"Conclusions
Our econometric analysis implies that long-term GDP growth is certainly desirable among poorer countries, but is it a desirable feature among developed countries as well? Recent evidence shows the negative effect of high aspiration can also be rationally predicted by individuals who, nevertheless, may still choose options that may not seem to maximise happiness, but which are compatible with high-income aspirations.
This implies that individuals may still prefer to live in richer countries, even if this would result in a decreased level of life satisfaction. In other words, the fact that individuals aspire to a higher income may not be considered – from an individual perspective – a negative feature of an economy even if this might result in a lower level of reported life satisfaction among the richest countries."
https://voxeu.org/article/gdp-and-life-satisfaction-new-evidence
Yes, a richer country means better life satisfaction overall, but it levels off at a certain point.
Yes, folks will voluntarily give up some life satisfaction to live in a richer, more developed nation.
Just stick to the question:
Do you think that economic growth guarantees rising happiness?click to expand
The country as a whole? Yes.. up to a certain point.
On an individual level? Not necessarily.
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It found that life satisfaction tends to decline in many countries once it hits the $ 30,000- $ 35,000 mark (commonly referred to as "the bliss point").
Do you think that economic growth guarantees rising happiness?