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The Connection of Money and Happiness: Can Money Buy Happiness

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We have discussed that role of Money, also mentioned different theories about origin of money and development. As money has involved in everywhere of human life, people also using money to dealing all the matter in their life, the things people dealing with are what we call material needs. Now a days most people are highly desire material wealth, beside that, most of government are focusing on increase material goods for citizen, in some wealthiest countries, government even able to provide house, education, medical treatment even furthermore, because human may have more desire and many goals. Therefore, in order to fitting to most desire in a society, material prosperity is the first goal of most society. Krugman mentioned: “In the end, economics is not about wealth, it is about pursuits happiness” there are a big argued about connection between happiness and wealth, so can money buy happiness ?

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There is a view that money can buy happiness because it can be exchanged for goods that increase one’s utility. Therefore, the relation between money and happiness are believed to be cause-and-effect, and high income should bring greater happiness. According to this absolute income assumption, the rich are happier in the same society than those who are less well off. However, as we know the most of people think money not able to buy happiness, it is reasonable sometime, correlation of money and happiness sometimes are small, because money as we said used to be a medium appear in our life, but the effect is larger when a country own dissatisfy income level in low-income developing economies. However, this kind of result not able to reflect the full relation between money and happiness, because human are easily change their mind, sometime people are focus on material goods, sometime they will focusing on spirit goods, therefore, income and happiness are positively correlated within a country for a given period of time, but not forever.

I my opinion, even we have no correct answer for connection between happiness and money. Money as a tool for exchanging material goods has appear in human life so long time, which means money able to representing all the material goods that fitting to people desire, now a days, money even can create invisible value for our life, it all showing connection between money and human happiness. However, that makes different social problems, money by long time evolution no longer just being a tool for exchanging, it has turned in to evaluation tool for almost everything in the world, people are keep trying to make more money by using any material goods, the problem is people may blinded by money and set a wrong price, at same time ignoring real value for certain goods, in the other hands misunderstanding the value of certain goods and lead to social problem, we are going to talk about how we control the money in order to avoid this kind of problem.

 

 References

  1. http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.208.4409&rep=rep1&type=pdf
  2. Diener.Ed&Shigehiro Oishi(2000) Money and Happines: Income and Subjective Well-Being Across Nation. Retrieved from:
  3. http://iwai-k.com/EvolutionofMoney.pdf
  4. Maurits.V.D.Veen(2012), The Dutch Tulip Mania: The Social Foundations of a Financial Bubble. Retrieved from:
  5. https://businessecon.org/wp-content/uploads/2013/09/TulipMania.pdf

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